As the economy begins to stabilize, we at The Society have enjoyed an increase in calls concerning our marketing services for vacation home rentals. Yet, before considering a purchase and/or interviewing management companies, it may be best to “Try Before You Buy”.

Let’s face it, we have all been on vacation and while enjoying ourselves, we begin to fantasize about the possibility of a vacation home purchase and start looking in the windows of real estate offices next door to the tee-shirt shop. While ownership can take many different forms from interval-ownership, time-shares, full ownership, partnerships and so forth, we suggest you “rent before you buy”.

1) Learning the Lay of the Land: Recently I enjoyed a vacation in Costa Rica. We stayed at a wonderful resort community and were truly enjoying the exemplary service provided by the management company representing our vacation home rental. We opened a dialogue with the management company assuming they would be most proactive in assisting us with a purchase and management contract in the community. To our surprise, the management company advised us 1) High-season is vastly different than the time we were visiting and 2) they suggested another area of Costa Rica to visit and 3) consider visiting at different times of the year. The management’s suggestions were right on target. We found a neighboring area we were even more impressed with and were assured in-season crowds would be minimal. All of this came about due to my comment “If I have to place a book on my lounge chair at 7AM to reserve it, I will not be a happy camper”.

2) Multiple Visits: From my experience as a real estate broker with experience in resort communities, I suggest visiting 3-4 times before making a purchase. By visiting multiple times, you can assess if the initial “wow-factor” continues on each visit and learn about the different seasons. For example, one of my clients bought in Vail, Colorado for the skiing. Yet, after a summer visit and enjoyment of the many golf courses, the clients now rent their vacation residence during the winter months (through The Society) and enjoy the summers on the golf course and biking the many mountain and paved trails.

3) Different Types of Lodging: Do you desire a vacation home or a flat. What are your needs and desires? Will it just be you and one other traveling or will friends and family be joining you on vacation? Assess your usage and demand, and then try out different lodging options. At The Society we have inventory ranging from multi-unit luxury flats to private estates. What a great opportunity to try before you buy. Try the flat, the private home or the hybrid. Most interval ownership opportunities will let you “try before you buy”, many times at a discounted rate or crediting the cost to a future purchase.

3A) Concerning Interval Ownership: Renting provides an alternative to purchasing and an opportunity to experience the benefits of timeshare ownership at reasonable rates. Timeshare rentals are becoming the new trend of vacationing. Families enjoy accommodations that are more spacious, with better locations and more amenities for about the same price as an above average hotel.

4) The Purchase: The most important question to ask concerns “maintenance, upkeep and management”. If your vacation rental is not within driving distance, you may not be visiting it for months at a time. Be sure to ask about maintenance, upkeep and management. A qualified management company/representative will be most candid concerning issues of vacation-ownership and will insure you sleep at night and when visiting, all your concerns are addressed.