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Real Estate
Reply to "Rehoboth Beach: Buying a Vacation Condo - Questions"
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[quote=Anonymous]We are seriously considering buying a beach home in Rehoboth. In order to afford it, we'd have to rent it out in the summer months, which we don't mind. My questions are: 1. How important is it to buy close to the ocean? We need to rent it out, and I think the closer we are to Rehoboth Avenue, the better. That said, those places are very expensive. Buying a few miles away would be much more affordable, but do those units rent consistently in the summer months? 2. We are currently saving money for the 20% downpayment on the beach house. How much extra should you generally save for 2nd homes (I'm thinking of emergency repairs, etc) 3. Lastly, if anyone has a Rehoboth rental property - how do you like it? Is it easy to manage? 4. Any other advice for a first time vacation home buyer? [/quote]
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