The Do's and Don'ts of Buying a Vacation Home
LOUISIANA REALTORS • June 21, 2017
No matter how popular or private; no matter how secluded or out in the open; when you discover your favorite vacation destination, it becomes “yours”. It’s an escape away from the ordinary to a place where you have your beloved hotel or resort, favorite restaurant, and you know the roads like the back of your hand. While you may know the concierge, chef, and gas station attendants by name, at some point you may want to put down some roots in your home away from home.
Just like any real estate purchase
there is a lot of due diligence to be done, this is especially true when purchasing a vacation home. Here are a few things to do, and a few to not do, when you decide to buy a vacation home.
Do Understand the Total Cost of Ownership
While your long term goal is to have a place of your own at your favorite retreat; a vacation home can also be a smart financial decision when you add up the expense of hotels, restaurants, etc. However, it will only make financial sense if you understand the total cost of homeownership. Just like with your primary residence there will be taxes, insurance, maintenance costs and more. All of these costs along with recurring charges like utilities need to be included in your budget.
Don’t Overestimate Travel
Getting there isn’t always half the fun. If you have a car ride of a few hours that can be very manageable. However if getting to your new home requires a plane ride or difficult terrain, that could be an issue. Remember, you’ll have additional responsibilities that may require unscheduled or inconvenient visits to your new property.
Don’t Forget About Safety
This is especially true when your home is new and you’re getting to know the community, as well as it is when you are away. Having a security system installed is essential and should be added into your budget. Wi-Fi cameras and surveillance are also a great way to stay connected with your property. It’s also a good idea to find someone that you can trust to check on things and keep you up to date while you are away.
Do Hire a REALTOR®
New ParagraphJust as if you were shopping for a primary residence, a REALTOR® is an invaluable resource as you search for your vacation home. REALTORS®
offer local expertise and experience along with access to information and locations. Entrusting your vacation home shopping experience to a skilled REALTOR® is a must.
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Week three of the Regular Session kept real estate issues in the conversation, even as lawmakers continued to focus heavily on workforce, tax and insurance policy. On the property tax front, measures to reshape assessments and exemptions, including proposals for a new blight rehabilitation exemption and additional relief for seniors, remain parked in the House Ways and Means Committee as stakeholders work through fiscal and local government concerns. These bills matter because they will influence long-term carrying costs, redevelopment incentives and how tax burdens are shared across residential and commercial property. Homestead related legislation, including parish level authority to increase the exemption amount, is also in the queue, signaling that the broader structure of Louisiana’s homestead system is officially on the table, not just the dollar figure. For homeowners and buyers, this debate goes directly to affordability. For local governments, it raises revenue stability and service delivery questions. There also has been movement on several identical pieces of legislation that would instruct parish assessors to develop a process for homeowners to permanently register for the homestead exemption for the duration that they own and live on the property. We are actively tracking legislation that will directly shape how investor activity and non-traditional transactions are recognized and regulated in Louisiana’s real estate market. This includes HB 468 by Troy Hebert , a key component of the Louisiana REALTORS® legislative package that targets the wholesale of residential real estate, which was heard in the House Commerce Committee on Monday. The bill is currently positioned for a floor vote early next week. As drafted, HB 468 represents a major step in the right direction for consumer protection in Louisiana, advancing needed guardrails through potential disclosure, registration, and practice standards that could redefine how assignment contracts and “off-market” transactions intersect with licensed brokerage activity. In parallel, HB 292 by Delisha Boyd passed the House on final reading, 86-3, and is on its way to the Senate. Together, these measures represent a coordinated policy effort to bring greater structure and transparency to emerging transaction models, while preserving the integrity of the traditional brokerage framework. Finally, the broader policy backdrop remains important: the Governor continues to push income tax changes and cost of living relief, while business and industry groups are prioritizing insurance, workforce and energy — each a key driver of long run housing demand and investment. As these debates evolve, we’ll keep you updated on what moves, what stalls and what it all means for your clients, your pipeline and private property rights across Louisiana. Please view the weekly bill tracking report provided by our lobbying team over at Harris, DeVille and Associates.
Tax Questions & Updates for 2026 Webinar Recording Now Available
NAR is pleased to share the latest consumer guide that explains the concept of home staging, offers DIY staging tips and missteps and shares the latest NAR member sentiment on how staging can help buyers better visualize the property as their future home and potentially net sellers a higher price. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow up to two weeks for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Staging Your House for a Sale Spotting Deepfake Scams in Real Estate Are You Ready to Invest in Real Estate? Thinking of Selling? 7 Factors to Consider How to Make Your Home More Energy Efficient Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their home buying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for the next consumer guide, which discusses home mortgage options that allow buyers to fold in renovation costs.
