When I got laid off back in 2000 I actually remember not being that upset. I wasn't all that thrilled with the job anyway and didn't have the gumption to jump ship on my own. Little did I realize that my path would lead me to living in a resort town, working on ski patrol and living the life I'd only dreamed about in high school. All those hours spent watching Glen Plake and Scot Schmidt jumping off cliffs, not to mention the classic, Ski Patrol movie were now my (significantly more mellow) daily life.

Living in a resort town like Lincoln or North Conway is a dream of lots of people, especially those who enjoy all that those areas have to offer. Most people simply visit the White Mountains for a weekend or a week and then cruise back down 93 to their "normal" life. The fortunate ones actually own property in their chosen destination and have the luxury of calling these spots "home". Of course there are the really fortunate folks that have a handful of "homes away from home", but those people are few and far between. Today I'd like to explore the ones who are just about to dip their toe in the vacation home market.

As a real estate agent or a seller, it is important for you to get in the mind of these buyers and, more than anything, establish if they are ready to make the leap into their 2nd home. This is true of ANY buyer really. But the vacation homebuyer is a slightly different breed. "The conversation tends to start when these potential buyers keep renting the same (or a similar) home every season," notes Badger Peabody & Smith Realty (formerly Badger Realty) agent, Denice Tepe. "They tend to keep mentioning that they "should" just buy something, but have yet to delve in and get some real information," she continued.

The first and most obvious sector these potential buyers should be keenly aware of is their finances. Buying a second home does not typically come with the advantages with down payments, as does a first home. Buyers should be capable of tossing in twenty percent for the down payment and they should have a fairly healthy cushion for updates, repairs and other expenses. In Lincoln, most of the real estate is condominiums so condo fees and other associated assessments can be a shock if the buyers have not done their homework. Many experts recommend that the primary home be paid off before jumping into the vacation home market. My two cents is: I think this is best answered by your own accountant.

Speaking of homework, if you are interested in a second home one of the key indicators for real estate professionals on whether you are ready or not, is your hunger for information. I recommend buyers visit the area outside of their desired vacation timeframe. This provides a better-rounded picture of the area and will most likely expand their timeframes for visiting (especially now that they own a place!). Having lived in Lincoln for about a decade, I learned that late fall (like, right now!) was my favorite time of year. Of course I love the snow and thoroughly enjoy hiking and camping in the heat of the summer, but exploring the wilderness without bugs (or droves of tourists) this time of year truly makes my heart sing!

Beyond the awesomeness of this place we call home, second homebuyers should also be keenly aware of the local market. I have talked multiple times about the value of working with a local, experienced agent and this situation is no different. An experienced agent can educate you on how the local market is trending, how vacation homes vs. standard homes are selling and/or holding their value and even keep you apprised of any local changes, construction, road maintenance or other factors that might influence the market and the value of your investment. There truly is no substitute for local experience.

Although there's much to love about the White Mountains every month of the year (Yes, even April!) it is important to establish your intentions for the use of the home. If you are considering renting the unit out some of the time, consider a property management company. They help remove the hassle of finding renters, turning the place over between rentals and dealing with the paperwork, cleaning and all of that. This is also one of the big benefits of making a condo your second home. The vast majority of the maintenance and upkeep is taken care of for you. When your home is not being rented, you simply show up and enjoy.

A second/vacation home is a luxury that will not only pay dividends as you enjoy it and recreate in your chosen destination, it will typically provide a nice return on your investment when you are ready to sell. If you are reading this and you are here enjoying the remaining foliage or you are heading up to Wildcat to make a few turns (I know!! Open in October!!), consider making this a more permanent place to call home. We think you'll be glad you did.