VACATION HOME BASICS: WHAT TO LOOK FOR

One week, two weeks, three weeks, four. No matter how much you vacation each year, you may find yourself continually returning to the same place. Maybe you love Mexico, perhaps Florida is a state you can't do without, or maybe you heart Hawaii. If you find yourself a repeat visitor, always going back for more, a vacation home is something you might want to invest in. Not only does this make your vacation more convenient, but it saves you money on hotel bills and restaurant checks.

Still, vacation homes aren't things you should just purchase on a whim. Before making a commitment to a residence, consider the following:

Location: It's pretty obvious: when it comes to a vacation home, location should be on the top of your list. If you don't vacation in Delaware, for instance, you probably shouldn't buy a house there. Still, the location of your vacation home is more than just the city or the state in which you purchase. Other things you need to consider are future happiness (you may love vacationing at Daytona Beach while you're all about the party scene, but what about once you've settled down?) and the location within the area. Do you want a house that's beachside or one right near the highway? Do you want a house that is centrally located or one in a more desolate area?

Price: Unless you have money to burn, there is little sense in paying millions of dollars for a vacation home that you rarely stay at. This doesn't mean you should purchase a "vacation shack" or a "vacation cardboard box" but your vacation home should fit in with the financial limits of your lifestyle. If you have to skimp out on other aspects just to meet your vacation home's monetary needs, consider downgrading to something more affordable. The vacation home in which you visit a few weeks a year should generally not be nicer than the home in which you live the rest of the time.

Rent-ability: When you're not vacationing in your vacation home, you might find yourself wanting to rent it out. If you have a vacation home near a beach or near a ski resort, renters may be knocking on the door at various times of the year. This not only provides you with reassurance (as your vacation home isn't left alone 350 days a year) but it also provides you with additional income. For this reason, the rentability of your house is something to consider. If your house is designed in a way that only you could love, or in an area where only you would visit, you might want to try something more appealing to the general public.

Maintenance: No one wants to live in a high maintenance house, let alone vacation in one. High maintenance vacation homes are often worse than ones that are lived in year round. First of all, you don't want to shell out money for repairs in a house you rarely see. But most of all, you usually aren't in the vicinity of your vacation home: if something breaks or goes wrong, you can't just run on over and fix it.

Vacation homes are a nice addition to your lifestyle, but prevent disasters by putting thought into your purchase; you don't want to end up with a vacation home that should have the words "National Lampoon's" in front of it.