Is a Vacation Home Right For You?

Many of us dream about owning the vacation home in the Mountains, or on the Lake or Ocean. A place where one can retreat periodically from the hustle-bustle of everyday life. However, for those who do achieve the financial resources to make such a purchase, there are several factors that should be considered first prior to taking the plunge.

Owning a Vacation Home can be a wonderful experience, but it is a huge commitment and responsibility. When one first thinks of owning a Vacation Home, we think of only the positives, such as a quiet remote location where we can get away from it all. A place where we can swim, fish, hike, and ski. Unfortunately for many, they forget about the other realities: location and travel time, upkeep and the associated costs, high property taxes, their children's school and other home activities, guests. All of these put stress on the new Vacation Home owner, and how they prepare ahead of time to address these issues determines how enjoyable their new purchase will be.

The first item to consider when purchasing a Vacation Home is location. Is it near enough from your main home such that you can enjoy it regularly enough? If not, consider another investment. The last thing you want to do is make a huge investment in property that you can not regularly enjoy. Though real estate has always been considered a good investment it is not considered liquid, and expensive vacation homes can take a long time to sell.

Cost of upkeep and property taxes should also be heavily considered. Maintaining a vacation home is not cheap and the local town officials love to hit the vacation homes hard with property tax bills.

One also needs to consider his or her own weekend responsibilities and those of their children. Sports team events, clubs and organizations as well as maintaining the main house will eat into the time available to head to the weekend get-away. And if you have teenagers, they have their own dates and plans. Be prepared, more times than not, for having to forgo the weekend retreat for your children and other responsibilities.

One of the other aspects of owning a Vacation Home is having guests. This is a double edge sword. You want to have guests to share in your retreat. However, the upkeep, food and cooking can become overwhelming. Also, when guests visit, they are on vacation, but you may not necessarily be. It is important to let friends and families understand this, otherwise prepare for unexpected meals outs and other activities.

Owning a Vacation Home can be, and is for most, a wonderful experience. Those who truly enjoy them, usually have to go through an adjustment cycle. First the euphoria phase, followed by a frustration and exhaustion phase, and finally the true enjoyment stage. The enjoyment phase occurs when one has developed a balance between the pros of owning a vacation home and the other responsibilities of their lives.

Buying a House in Scotland   Just Give Me Eleven Reasons To Buy In Dubai   Just Give Me Eleven Reasons To Buy In Dubai   

Buying a House in Scotland

Buying a house in Scotland is slightly different from buying a house in other parts of the UK. It's not particularly complicated, and buying north of the border can often be quicker, but for those relocating from England and Wales there are a number of points you need to bear in mind.

Agreement in principle

Before you begin house-hunting in Scotland you need to have an agreement in principle for your mortgage. An agreement in principle takes the form of confirmation from your lender that, subject to various conditions, they are prepared to give you a mortgage up to a certain amount. This amount will be based on your income in much the same way as it is in the rest of the UK. Without an agreement in principle in place, any offers you make on properties are unlikely to be taken very seriously.

Sealed bids

In England and Wales, houses are normally advertised at a given price and the vendor accepts that he may well have to settle for a price that is lower than the original asking price. Under the Scottish system, the vendor sets a price and invites offers in excess of this via a sealed bids system. Although this type of secret bidding is sometimes seen in the rest of the UK, it is normally only in cases where the property is particularly expensive or desirable.

Commitment

When you buy a house in Scotland, if your offer is accepted, you are immediately under an obligation to buy that property. This is why an agreement in principle is required before you go house-hunting. By contrast, in England and Wales, you can pull out of buying the property without penalty up until the time when contracts are exchanged.

The Scottish vendor is also committed to the deal as soon as he accepts the buyer's offer. Hence the risk of gazumping (where the vendor later accepts a higher offer from someone else) is removed.

Solicitors

Because of the earlier commitment to buy, solicitors play a much greater role in the buying and selling of homes in Scotland. In many cases the solicitor will act as the selling agent for a property rather than an estate agent.

The actual house-hunting process in Scotland is much the same as anywhere else. But don't forget, when you are looking at properties, that the advertised price is the minimum you will have to pay, and is not a starting point for bargaining downwards.

As a buyer, you will need to appoint a solicitor before, or as soon as, you see a property you want to make an offer on. Once you are ready to make an offer, your solicitor will contact the selling agent and ask them to "note interest".

Finalising the mortgage

After this, you will need to finalise your mortgage application by going back to your lender and providing details of the specific property you are planning to buy. Once this is done, the lender's valuation and your own survey can be carried out.

Arranging a survey

Although your own survey is not compulsory, it is strongly recommended that you have one done before making an offer. Because you are legally committed to buy the property once you make your offer, it is important to know as much as you can about its condition. The results of the survey will help you as well when it comes to deciding how much to offer.

Of course, at this stage, there is no guarantee that your offer will be accepted, and so it is not uncommon to end up having to pay for surveys on more than one property. This is, unfortunately, one of the disadvantages of the Scottish system. In England and Wales, where you can make your offer and then pull out before contracts are exchanged, buyers normally only have to pay for one survey.

Making an offer

After the seller's solicitor has received notification of interest from two or more buyers, he will announce a closing date by which all of the offers must be received. Because a sealed bids system is used, no-one knows what anyone else has bid. Also, each buyer can only bid once, so it is important to think very carefully about what size offer to make and get it right first time.

Your solicitor will make the offer on your behalf and will also advise a "date of entry". This is the date when you will be given the keys to your new home, and is the equivalent of the completion date used in England and Wales.

Once the closing date for offers comes, the vendor will accept the highest bid and from this point on both parties are committed. There are no deposits involved unless you are buying a new property, but if either the buyer or the seller pulls out from here on, they are liable for any losses the other party may have incurred.

Concluding the missives

After the offer is accepted, the buyer's solicitor will "conclude the missives". This is similar to exchanging contracts under the English system. Once all the details of the sale have been agreed via this procedure, you as the buyer are responsible for the structure of the building and need to make sure you have adequate buildings insurance in place.

Settlement

All the funds to buy the property, together with all the fees, need to be ready for forwarding to your solicitor about two weeks before the date of entry. These monies will be transferred to your solicitor the day before your date of entry, and you will then need to sign the title deed to the property.

Finally, the vendor's solicitor will hand over the keys and the "disposition document" which legally transfers ownership of the property to you.

----

Copyright 2004 David Miles. You are welcome to reproduce this article on your website, so long as it is published "as is" (unedited) and with the author's bio paragraph (resource box) and copyright information included. In addition, all links to external websites must be left in place.

Buying a House in Scotland   Just Give Me Eleven Reasons To Buy In Dubai   Just Give Me Eleven Reasons To Buy In Dubai   

Just Give Me Eleven Reasons To Buy In Dubai

Buying overseas property is not always for the fainthearted but we think Dubai is an exception to this. Here are eleven reasons to buy in Dubai:

1. Property prices look cheap by International standards, and rental yields are still high in Dubai.

2. Rental Market: Long-term residents of U.A.E. are considering buying to replace rental payments and to take advantage of the ever increasing market demand for property in Dubai.

3. Future Development: There is a big change in the city's geography underway with huge plans for the future. What is the fringe of Dubai today, the Dubai Marina, will be uptown Dubai of tomorrow. Thus property values will follow this curve upwards, as people relocate to the new "Centre".

4. Good Prices: Comparatively property is cheap compared to other major cities in the World. Dubai villas cost around $1,000 per square metre. London on the other hand are selling apartments in London Docklands area at $5,000 per square metre an amazing difference.

5. Prime Locations: Oversupply is the main fear highlighted by skeptics. But there can only be so many properties in prime locations and the time to buy them is now. Most projects are now fetching three times their original price.

6. Freehold Laws: Legally, there is no law to prevent freehold purchase in Dubai, and a new federal law should shortly frame legal rights into a form acceptable to international banks for mortgages this will push demand and prices up even higher than they are now.

7. Demand for freehold property in Dubai is much higher than most people can comprehend and understand. Certainly an economy growing at 10% plus a year has a dynamic effect of its own that reflects a huge demand for accommodation.

8. Sound Market: Any property market is going to have its ups and downs, and Dubai will be no different. All the same, Dubai has a habit of frustrating those who wait for bargains. In 1998 some thought rental prices would collapse. It did not happen they are still on the up as is Abu Dhabi.

9. Dubai wants you: Dubai is in the process of creating an international property market from scratch. As a result overseas property buyers are being given an exceptionally good deal to encourage them to be the pioneers of this market with very low deposits.

10. Resale Market: As the second-hand market emerges and the legal position of owners becomes absolutely clear, the element of risk will go, and lower risk will mean higher property prices.

11. Economic Growth: Dubai is a city where a lot of people earn high tax-free salaries and are in a position to support higher house prices. This is a city with a 20-year track record of strong economic growth and will continue to attract foreign and regional inward investment for many years to come.

So why not buy in Dubai - it could be the best thing you ever did!

Buying a House in Scotland   Just Give Me Eleven Reasons To Buy In Dubai   Just Give Me Eleven Reasons To Buy In Dubai   

Just Give Me Eleven Reasons To Buy In Dubai

Buying overseas property is not always for the fainthearted but we think Dubai is an exception to this. Here are eleven reasons to buy in Dubai:

1. Property prices look cheap by International standards, and rental yields are still high in Dubai.

2. Rental Market: Long-term residents of U.A.E. are considering buying to replace rental payments and to take advantage of the ever increasing market demand for property in Dubai.

3. Future Development: There is a big change in the city's geography underway with huge plans for the future. What is the fringe of Dubai today, the Dubai Marina, will be uptown Dubai of tomorrow. Thus property values will follow this curve upwards, as people relocate to the new "Centre".

4. Good Prices: Comparatively property is cheap compared to other major cities in the World. Dubai villas cost around $1,000 per square metre. London on the other hand are selling apartments in London Docklands area at $5,000 per square metre an amazing difference.

5. Prime Locations: Oversupply is the main fear highlighted by skeptics. But there can only be so many properties in prime locations and the time to buy them is now. Most projects are now fetching three times their original price.

6. Freehold Laws: Legally, there is no law to prevent freehold purchase in Dubai, and a new federal law should shortly frame legal rights into a form acceptable to international banks for mortgages this will push demand and prices up even higher than they are now.

7. Demand for freehold property in Dubai is much higher than most people can comprehend and understand. Certainly an economy growing at 10% plus a year has a dynamic effect of its own that reflects a huge demand for accommodation.

8. Sound Market: Any property market is going to have its ups and downs, and Dubai will be no different. All the same, Dubai has a habit of frustrating those who wait for bargains. In 1998 some thought rental prices would collapse. It did not happen they are still on the up as is Abu Dhabi.

9. Dubai wants you: Dubai is in the process of creating an international property market from scratch. As a result overseas property buyers are being given an exceptionally good deal to encourage them to be the pioneers of this market with very low deposits.

10. Resale Market: As the second-hand market emerges and the legal position of owners becomes absolutely clear, the element of risk will go, and lower risk will mean higher property prices.

11. Economic Growth: Dubai is a city where a lot of people earn high tax-free salaries and are in a position to support higher house prices. This is a city with a 20-year track record of strong economic growth and will continue to attract foreign and regional inward investment for many years to come.

So why not buy in Dubai - it could be the best thing you ever did!

Buying a House in Scotland   Just Give Me Eleven Reasons To Buy In Dubai   Just Give Me Eleven Reasons To Buy In Dubai   

Just Give Me Eleven Reasons To Buy In Dubai

Buying overseas property is not always for the fainthearted but we think Dubai is an exception to this. Here are eleven reasons to buy in Dubai:

1. Property prices look cheap by International standards, and rental yields are still high in Dubai.

2. Rental Market: Long-term residents of U.A.E. are considering buying to replace rental payments and to take advantage of the ever increasing market demand for property in Dubai.

3. Future Development: There is a big change in the city's geography underway with huge plans for the future. What is the fringe of Dubai today, the Dubai Marina, will be uptown Dubai of tomorrow. Thus property values will follow this curve upwards, as people relocate to the new "Centre".

4. Good Prices: Comparatively property is cheap compared to other major cities in the World. Dubai villas cost around $1,000 per square metre. London on the other hand are selling apartments in London Docklands area at $5,000 per square metre an amazing difference.

5. Prime Locations: Oversupply is the main fear highlighted by skeptics. But there can only be so many properties in prime locations and the time to buy them is now. Most projects are now fetching three times their original price.

6. Freehold Laws: Legally, there is no law to prevent freehold purchase in Dubai, and a new federal law should shortly frame legal rights into a form acceptable to international banks for mortgages this will push demand and prices up even higher than they are now.

7. Demand for freehold property in Dubai is much higher than most people can comprehend and understand. Certainly an economy growing at 10% plus a year has a dynamic effect of its own that reflects a huge demand for accommodation.

8. Sound Market: Any property market is going to have its ups and downs, and Dubai will be no different. All the same, Dubai has a habit of frustrating those who wait for bargains. In 1998 some thought rental prices would collapse. It did not happen they are still on the up as is Abu Dhabi.

9. Dubai wants you: Dubai is in the process of creating an international property market from scratch. As a result overseas property buyers are being given an exceptionally good deal to encourage them to be the pioneers of this market with very low deposits.

10. Resale Market: As the second-hand market emerges and the legal position of owners becomes absolutely clear, the element of risk will go, and lower risk will mean higher property prices.

11. Economic Growth: Dubai is a city where a lot of people earn high tax-free salaries and are in a position to support higher house prices. This is a city with a 20-year track record of strong economic growth and will continue to attract foreign and regional inward investment for many years to come.

So why not buy in Dubai - it could be the best thing you ever did!

Buying a House in Scotland   Just Give Me Eleven Reasons To Buy In Dubai   Just Give Me Eleven Reasons To Buy In Dubai   

Buying a House in Scotland

Buying a house in Scotland is slightly different from buying a house in other parts of the UK. It's not particularly complicated, and buying north of the border can often be quicker, but for those relocating from England and Wales there are a number of points you need to bear in mind.

Agreement in principle

Before you begin house-hunting in Scotland you need to have an agreement in principle for your mortgage. An agreement in principle takes the form of confirmation from your lender that, subject to various conditions, they are prepared to give you a mortgage up to a certain amount. This amount will be based on your income in much the same way as it is in the rest of the UK. Without an agreement in principle in place, any offers you make on properties are unlikely to be taken very seriously.

Sealed bids

In England and Wales, houses are normally advertised at a given price and the vendor accepts that he may well have to settle for a price that is lower than the original asking price. Under the Scottish system, the vendor sets a price and invites offers in excess of this via a sealed bids system. Although this type of secret bidding is sometimes seen in the rest of the UK, it is normally only in cases where the property is particularly expensive or desirable.

Commitment

When you buy a house in Scotland, if your offer is accepted, you are immediately under an obligation to buy that property. This is why an agreement in principle is required before you go house-hunting. By contrast, in England and Wales, you can pull out of buying the property without penalty up until the time when contracts are exchanged.

The Scottish vendor is also committed to the deal as soon as he accepts the buyer's offer. Hence the risk of gazumping (where the vendor later accepts a higher offer from someone else) is removed.

Solicitors

Because of the earlier commitment to buy, solicitors play a much greater role in the buying and selling of homes in Scotland. In many cases the solicitor will act as the selling agent for a property rather than an estate agent.

The actual house-hunting process in Scotland is much the same as anywhere else. But don't forget, when you are looking at properties, that the advertised price is the minimum you will have to pay, and is not a starting point for bargaining downwards.

As a buyer, you will need to appoint a solicitor before, or as soon as, you see a property you want to make an offer on. Once you are ready to make an offer, your solicitor will contact the selling agent and ask them to "note interest".

Finalising the mortgage

After this, you will need to finalise your mortgage application by going back to your lender and providing details of the specific property you are planning to buy. Once this is done, the lender's valuation and your own survey can be carried out.

Arranging a survey

Although your own survey is not compulsory, it is strongly recommended that you have one done before making an offer. Because you are legally committed to buy the property once you make your offer, it is important to know as much as you can about its condition. The results of the survey will help you as well when it comes to deciding how much to offer.

Of course, at this stage, there is no guarantee that your offer will be accepted, and so it is not uncommon to end up having to pay for surveys on more than one property. This is, unfortunately, one of the disadvantages of the Scottish system. In England and Wales, where you can make your offer and then pull out before contracts are exchanged, buyers normally only have to pay for one survey.

Making an offer

After the seller's solicitor has received notification of interest from two or more buyers, he will announce a closing date by which all of the offers must be received. Because a sealed bids system is used, no-one knows what anyone else has bid. Also, each buyer can only bid once, so it is important to think very carefully about what size offer to make and get it right first time.

Your solicitor will make the offer on your behalf and will also advise a "date of entry". This is the date when you will be given the keys to your new home, and is the equivalent of the completion date used in England and Wales.

Once the closing date for offers comes, the vendor will accept the highest bid and from this point on both parties are committed. There are no deposits involved unless you are buying a new property, but if either the buyer or the seller pulls out from here on, they are liable for any losses the other party may have incurred.

Concluding the missives

After the offer is accepted, the buyer's solicitor will "conclude the missives". This is similar to exchanging contracts under the English system. Once all the details of the sale have been agreed via this procedure, you as the buyer are responsible for the structure of the building and need to make sure you have adequate buildings insurance in place.

Settlement

All the funds to buy the property, together with all the fees, need to be ready for forwarding to your solicitor about two weeks before the date of entry. These monies will be transferred to your solicitor the day before your date of entry, and you will then need to sign the title deed to the property.

Finally, the vendor's solicitor will hand over the keys and the "disposition document" which legally transfers ownership of the property to you.

----

Copyright 2004 David Miles. You are welcome to reproduce this article on your website, so long as it is published "as is" (unedited) and with the author's bio paragraph (resource box) and copyright information included. In addition, all links to external websites must be left in place.

Buying a House in Scotland   Just Give Me Eleven Reasons To Buy In Dubai   Just Give Me Eleven Reasons To Buy In Dubai   

Buying a House in Scotland

Buying a house in Scotland is slightly different from buying a house in other parts of the UK. It's not particularly complicated, and buying north of the border can often be quicker, but for those relocating from England and Wales there are a number of points you need to bear in mind.

Agreement in principle

Before you begin house-hunting in Scotland you need to have an agreement in principle for your mortgage. An agreement in principle takes the form of confirmation from your lender that, subject to various conditions, they are prepared to give you a mortgage up to a certain amount. This amount will be based on your income in much the same way as it is in the rest of the UK. Without an agreement in principle in place, any offers you make on properties are unlikely to be taken very seriously.

Sealed bids

In England and Wales, houses are normally advertised at a given price and the vendor accepts that he may well have to settle for a price that is lower than the original asking price. Under the Scottish system, the vendor sets a price and invites offers in excess of this via a sealed bids system. Although this type of secret bidding is sometimes seen in the rest of the UK, it is normally only in cases where the property is particularly expensive or desirable.

Commitment

When you buy a house in Scotland, if your offer is accepted, you are immediately under an obligation to buy that property. This is why an agreement in principle is required before you go house-hunting. By contrast, in England and Wales, you can pull out of buying the property without penalty up until the time when contracts are exchanged.

The Scottish vendor is also committed to the deal as soon as he accepts the buyer's offer. Hence the risk of gazumping (where the vendor later accepts a higher offer from someone else) is removed.

Solicitors

Because of the earlier commitment to buy, solicitors play a much greater role in the buying and selling of homes in Scotland. In many cases the solicitor will act as the selling agent for a property rather than an estate agent.

The actual house-hunting process in Scotland is much the same as anywhere else. But don't forget, when you are looking at properties, that the advertised price is the minimum you will have to pay, and is not a starting point for bargaining downwards.

As a buyer, you will need to appoint a solicitor before, or as soon as, you see a property you want to make an offer on. Once you are ready to make an offer, your solicitor will contact the selling agent and ask them to "note interest".

Finalising the mortgage

After this, you will need to finalise your mortgage application by going back to your lender and providing details of the specific property you are planning to buy. Once this is done, the lender's valuation and your own survey can be carried out.

Arranging a survey

Although your own survey is not compulsory, it is strongly recommended that you have one done before making an offer. Because you are legally committed to buy the property once you make your offer, it is important to know as much as you can about its condition. The results of the survey will help you as well when it comes to deciding how much to offer.

Of course, at this stage, there is no guarantee that your offer will be accepted, and so it is not uncommon to end up having to pay for surveys on more than one property. This is, unfortunately, one of the disadvantages of the Scottish system. In England and Wales, where you can make your offer and then pull out before contracts are exchanged, buyers normally only have to pay for one survey.

Making an offer

After the seller's solicitor has received notification of interest from two or more buyers, he will announce a closing date by which all of the offers must be received. Because a sealed bids system is used, no-one knows what anyone else has bid. Also, each buyer can only bid once, so it is important to think very carefully about what size offer to make and get it right first time.

Your solicitor will make the offer on your behalf and will also advise a "date of entry". This is the date when you will be given the keys to your new home, and is the equivalent of the completion date used in England and Wales.

Once the closing date for offers comes, the vendor will accept the highest bid and from this point on both parties are committed. There are no deposits involved unless you are buying a new property, but if either the buyer or the seller pulls out from here on, they are liable for any losses the other party may have incurred.

Concluding the missives

After the offer is accepted, the buyer's solicitor will "conclude the missives". This is similar to exchanging contracts under the English system. Once all the details of the sale have been agreed via this procedure, you as the buyer are responsible for the structure of the building and need to make sure you have adequate buildings insurance in place.

Settlement

All the funds to buy the property, together with all the fees, need to be ready for forwarding to your solicitor about two weeks before the date of entry. These monies will be transferred to your solicitor the day before your date of entry, and you will then need to sign the title deed to the property.

Finally, the vendor's solicitor will hand over the keys and the "disposition document" which legally transfers ownership of the property to you.

----

Copyright 2004 David Miles. You are welcome to reproduce this article on your website, so long as it is published "as is" (unedited) and with the author's bio paragraph (resource box) and copyright information included. In addition, all links to external websites must be left in place.

Buying a House in Scotland   Just Give Me Eleven Reasons To Buy In Dubai   Just Give Me Eleven Reasons To Buy In Dubai   

Is a Vacation Home Right For You?

Many of us dream about owning the vacation home in the Mountains, or on the Lake or Ocean. A place where one can retreat periodically from the hustle-bustle of everyday life. However, for those who do achieve the financial resources to make such a purchase, there are several factors that should be considered first prior to taking the plunge.

Owning a Vacation Home can be a wonderful experience, but it is a huge commitment and responsibility. When one first thinks of owning a Vacation Home, we think of only the positives, such as a quiet remote location where we can get away from it all. A place where we can swim, fish, hike, and ski. Unfortunately for many, they forget about the other realities: location and travel time, upkeep and the associated costs, high property taxes, their children's school and other home activities, guests. All of these put stress on the new Vacation Home owner, and how they prepare ahead of time to address these issues determines how enjoyable their new purchase will be.

The first item to consider when purchasing a Vacation Home is location. Is it near enough from your main home such that you can enjoy it regularly enough? If not, consider another investment. The last thing you want to do is make a huge investment in property that you can not regularly enjoy. Though real estate has always been considered a good investment it is not considered liquid, and expensive vacation homes can take a long time to sell.

Cost of upkeep and property taxes should also be heavily considered. Maintaining a vacation home is not cheap and the local town officials love to hit the vacation homes hard with property tax bills.

One also needs to consider his or her own weekend responsibilities and those of their children. Sports team events, clubs and organizations as well as maintaining the main house will eat into the time available to head to the weekend get-away. And if you have teenagers, they have their own dates and plans. Be prepared, more times than not, for having to forgo the weekend retreat for your children and other responsibilities.

One of the other aspects of owning a Vacation Home is having guests. This is a double edge sword. You want to have guests to share in your retreat. However, the upkeep, food and cooking can become overwhelming. Also, when guests visit, they are on vacation, but you may not necessarily be. It is important to let friends and families understand this, otherwise prepare for unexpected meals outs and other activities.

Owning a Vacation Home can be, and is for most, a wonderful experience. Those who truly enjoy them, usually have to go through an adjustment cycle. First the euphoria phase, followed by a frustration and exhaustion phase, and finally the true enjoyment stage. The enjoyment phase occurs when one has developed a balance between the pros of owning a vacation home and the other responsibilities of their lives.

Buying a House in Scotland   Just Give Me Eleven Reasons To Buy In Dubai   Just Give Me Eleven Reasons To Buy In Dubai   

Is a Vacation Home Right For You?

Many of us dream about owning the vacation home in the Mountains, or on the Lake or Ocean. A place where one can retreat periodically from the hustle-bustle of everyday life. However, for those who do achieve the financial resources to make such a purchase, there are several factors that should be considered first prior to taking the plunge.

Owning a Vacation Home can be a wonderful experience, but it is a huge commitment and responsibility. When one first thinks of owning a Vacation Home, we think of only the positives, such as a quiet remote location where we can get away from it all. A place where we can swim, fish, hike, and ski. Unfortunately for many, they forget about the other realities: location and travel time, upkeep and the associated costs, high property taxes, their children's school and other home activities, guests. All of these put stress on the new Vacation Home owner, and how they prepare ahead of time to address these issues determines how enjoyable their new purchase will be.

The first item to consider when purchasing a Vacation Home is location. Is it near enough from your main home such that you can enjoy it regularly enough? If not, consider another investment. The last thing you want to do is make a huge investment in property that you can not regularly enjoy. Though real estate has always been considered a good investment it is not considered liquid, and expensive vacation homes can take a long time to sell.

Cost of upkeep and property taxes should also be heavily considered. Maintaining a vacation home is not cheap and the local town officials love to hit the vacation homes hard with property tax bills.

One also needs to consider his or her own weekend responsibilities and those of their children. Sports team events, clubs and organizations as well as maintaining the main house will eat into the time available to head to the weekend get-away. And if you have teenagers, they have their own dates and plans. Be prepared, more times than not, for having to forgo the weekend retreat for your children and other responsibilities.

One of the other aspects of owning a Vacation Home is having guests. This is a double edge sword. You want to have guests to share in your retreat. However, the upkeep, food and cooking can become overwhelming. Also, when guests visit, they are on vacation, but you may not necessarily be. It is important to let friends and families understand this, otherwise prepare for unexpected meals outs and other activities.

Owning a Vacation Home can be, and is for most, a wonderful experience. Those who truly enjoy them, usually have to go through an adjustment cycle. First the euphoria phase, followed by a frustration and exhaustion phase, and finally the true enjoyment stage. The enjoyment phase occurs when one has developed a balance between the pros of owning a vacation home and the other responsibilities of their lives.

Buying a House in Scotland   Just Give Me Eleven Reasons To Buy In Dubai   Just Give Me Eleven Reasons To Buy In Dubai   

Just Give Me Eleven Reasons To Buy In Dubai

Buying overseas property is not always for the fainthearted but we think Dubai is an exception to this. Here are eleven reasons to buy in Dubai:

1. Property prices look cheap by International standards, and rental yields are still high in Dubai.

2. Rental Market: Long-term residents of U.A.E. are considering buying to replace rental payments and to take advantage of the ever increasing market demand for property in Dubai.

3. Future Development: There is a big change in the city's geography underway with huge plans for the future. What is the fringe of Dubai today, the Dubai Marina, will be uptown Dubai of tomorrow. Thus property values will follow this curve upwards, as people relocate to the new "Centre".

4. Good Prices: Comparatively property is cheap compared to other major cities in the World. Dubai villas cost around $1,000 per square metre. London on the other hand are selling apartments in London Docklands area at $5,000 per square metre an amazing difference.

5. Prime Locations: Oversupply is the main fear highlighted by skeptics. But there can only be so many properties in prime locations and the time to buy them is now. Most projects are now fetching three times their original price.

6. Freehold Laws: Legally, there is no law to prevent freehold purchase in Dubai, and a new federal law should shortly frame legal rights into a form acceptable to international banks for mortgages this will push demand and prices up even higher than they are now.

7. Demand for freehold property in Dubai is much higher than most people can comprehend and understand. Certainly an economy growing at 10% plus a year has a dynamic effect of its own that reflects a huge demand for accommodation.

8. Sound Market: Any property market is going to have its ups and downs, and Dubai will be no different. All the same, Dubai has a habit of frustrating those who wait for bargains. In 1998 some thought rental prices would collapse. It did not happen they are still on the up as is Abu Dhabi.

9. Dubai wants you: Dubai is in the process of creating an international property market from scratch. As a result overseas property buyers are being given an exceptionally good deal to encourage them to be the pioneers of this market with very low deposits.

10. Resale Market: As the second-hand market emerges and the legal position of owners becomes absolutely clear, the element of risk will go, and lower risk will mean higher property prices.

11. Economic Growth: Dubai is a city where a lot of people earn high tax-free salaries and are in a position to support higher house prices. This is a city with a 20-year track record of strong economic growth and will continue to attract foreign and regional inward investment for many years to come.

So why not buy in Dubai - it could be the best thing you ever did!

Buying a House in Scotland   Just Give Me Eleven Reasons To Buy In Dubai   Just Give Me Eleven Reasons To Buy In Dubai   

Buying a House in Scotland

Buying a house in Scotland is slightly different from buying a house in other parts of the UK. It's not particularly complicated, and buying north of the border can often be quicker, but for those relocating from England and Wales there are a number of points you need to bear in mind.

Agreement in principle

Before you begin house-hunting in Scotland you need to have an agreement in principle for your mortgage. An agreement in principle takes the form of confirmation from your lender that, subject to various conditions, they are prepared to give you a mortgage up to a certain amount. This amount will be based on your income in much the same way as it is in the rest of the UK. Without an agreement in principle in place, any offers you make on properties are unlikely to be taken very seriously.

Sealed bids

In England and Wales, houses are normally advertised at a given price and the vendor accepts that he may well have to settle for a price that is lower than the original asking price. Under the Scottish system, the vendor sets a price and invites offers in excess of this via a sealed bids system. Although this type of secret bidding is sometimes seen in the rest of the UK, it is normally only in cases where the property is particularly expensive or desirable.

Commitment

When you buy a house in Scotland, if your offer is accepted, you are immediately under an obligation to buy that property. This is why an agreement in principle is required before you go house-hunting. By contrast, in England and Wales, you can pull out of buying the property without penalty up until the time when contracts are exchanged.

The Scottish vendor is also committed to the deal as soon as he accepts the buyer's offer. Hence the risk of gazumping (where the vendor later accepts a higher offer from someone else) is removed.

Solicitors

Because of the earlier commitment to buy, solicitors play a much greater role in the buying and selling of homes in Scotland. In many cases the solicitor will act as the selling agent for a property rather than an estate agent.

The actual house-hunting process in Scotland is much the same as anywhere else. But don't forget, when you are looking at properties, that the advertised price is the minimum you will have to pay, and is not a starting point for bargaining downwards.

As a buyer, you will need to appoint a solicitor before, or as soon as, you see a property you want to make an offer on. Once you are ready to make an offer, your solicitor will contact the selling agent and ask them to "note interest".

Finalising the mortgage

After this, you will need to finalise your mortgage application by going back to your lender and providing details of the specific property you are planning to buy. Once this is done, the lender's valuation and your own survey can be carried out.

Arranging a survey

Although your own survey is not compulsory, it is strongly recommended that you have one done before making an offer. Because you are legally committed to buy the property once you make your offer, it is important to know as much as you can about its condition. The results of the survey will help you as well when it comes to deciding how much to offer.

Of course, at this stage, there is no guarantee that your offer will be accepted, and so it is not uncommon to end up having to pay for surveys on more than one property. This is, unfortunately, one of the disadvantages of the Scottish system. In England and Wales, where you can make your offer and then pull out before contracts are exchanged, buyers normally only have to pay for one survey.

Making an offer

After the seller's solicitor has received notification of interest from two or more buyers, he will announce a closing date by which all of the offers must be received. Because a sealed bids system is used, no-one knows what anyone else has bid. Also, each buyer can only bid once, so it is important to think very carefully about what size offer to make and get it right first time.

Your solicitor will make the offer on your behalf and will also advise a "date of entry". This is the date when you will be given the keys to your new home, and is the equivalent of the completion date used in England and Wales.

Once the closing date for offers comes, the vendor will accept the highest bid and from this point on both parties are committed. There are no deposits involved unless you are buying a new property, but if either the buyer or the seller pulls out from here on, they are liable for any losses the other party may have incurred.

Concluding the missives

After the offer is accepted, the buyer's solicitor will "conclude the missives". This is similar to exchanging contracts under the English system. Once all the details of the sale have been agreed via this procedure, you as the buyer are responsible for the structure of the building and need to make sure you have adequate buildings insurance in place.

Settlement

All the funds to buy the property, together with all the fees, need to be ready for forwarding to your solicitor about two weeks before the date of entry. These monies will be transferred to your solicitor the day before your date of entry, and you will then need to sign the title deed to the property.

Finally, the vendor's solicitor will hand over the keys and the "disposition document" which legally transfers ownership of the property to you.

----

Copyright 2004 David Miles. You are welcome to reproduce this article on your website, so long as it is published "as is" (unedited) and with the author's bio paragraph (resource box) and copyright information included. In addition, all links to external websites must be left in place.

Buying a House in Scotland   Just Give Me Eleven Reasons To Buy In Dubai   Just Give Me Eleven Reasons To Buy In Dubai   

Just Give Me Eleven Reasons To Buy In Dubai

Buying overseas property is not always for the fainthearted but we think Dubai is an exception to this. Here are eleven reasons to buy in Dubai:

1. Property prices look cheap by International standards, and rental yields are still high in Dubai.

2. Rental Market: Long-term residents of U.A.E. are considering buying to replace rental payments and to take advantage of the ever increasing market demand for property in Dubai.

3. Future Development: There is a big change in the city's geography underway with huge plans for the future. What is the fringe of Dubai today, the Dubai Marina, will be uptown Dubai of tomorrow. Thus property values will follow this curve upwards, as people relocate to the new "Centre".

4. Good Prices: Comparatively property is cheap compared to other major cities in the World. Dubai villas cost around $1,000 per square metre. London on the other hand are selling apartments in London Docklands area at $5,000 per square metre an amazing difference.

5. Prime Locations: Oversupply is the main fear highlighted by skeptics. But there can only be so many properties in prime locations and the time to buy them is now. Most projects are now fetching three times their original price.

6. Freehold Laws: Legally, there is no law to prevent freehold purchase in Dubai, and a new federal law should shortly frame legal rights into a form acceptable to international banks for mortgages this will push demand and prices up even higher than they are now.

7. Demand for freehold property in Dubai is much higher than most people can comprehend and understand. Certainly an economy growing at 10% plus a year has a dynamic effect of its own that reflects a huge demand for accommodation.

8. Sound Market: Any property market is going to have its ups and downs, and Dubai will be no different. All the same, Dubai has a habit of frustrating those who wait for bargains. In 1998 some thought rental prices would collapse. It did not happen they are still on the up as is Abu Dhabi.

9. Dubai wants you: Dubai is in the process of creating an international property market from scratch. As a result overseas property buyers are being given an exceptionally good deal to encourage them to be the pioneers of this market with very low deposits.

10. Resale Market: As the second-hand market emerges and the legal position of owners becomes absolutely clear, the element of risk will go, and lower risk will mean higher property prices.

11. Economic Growth: Dubai is a city where a lot of people earn high tax-free salaries and are in a position to support higher house prices. This is a city with a 20-year track record of strong economic growth and will continue to attract foreign and regional inward investment for many years to come.

So why not buy in Dubai - it could be the best thing you ever did!

Buying a House in Scotland   Just Give Me Eleven Reasons To Buy In Dubai   Just Give Me Eleven Reasons To Buy In Dubai   

Just Give Me Eleven Reasons To Buy In Dubai

Buying overseas property is not always for the fainthearted but we think Dubai is an exception to this. Here are eleven reasons to buy in Dubai:

1. Property prices look cheap by International standards, and rental yields are still high in Dubai.

2. Rental Market: Long-term residents of U.A.E. are considering buying to replace rental payments and to take advantage of the ever increasing market demand for property in Dubai.

3. Future Development: There is a big change in the city's geography underway with huge plans for the future. What is the fringe of Dubai today, the Dubai Marina, will be uptown Dubai of tomorrow. Thus property values will follow this curve upwards, as people relocate to the new "Centre".

4. Good Prices: Comparatively property is cheap compared to other major cities in the World. Dubai villas cost around $1,000 per square metre. London on the other hand are selling apartments in London Docklands area at $5,000 per square metre an amazing difference.

5. Prime Locations: Oversupply is the main fear highlighted by skeptics. But there can only be so many properties in prime locations and the time to buy them is now. Most projects are now fetching three times their original price.

6. Freehold Laws: Legally, there is no law to prevent freehold purchase in Dubai, and a new federal law should shortly frame legal rights into a form acceptable to international banks for mortgages this will push demand and prices up even higher than they are now.

7. Demand for freehold property in Dubai is much higher than most people can comprehend and understand. Certainly an economy growing at 10% plus a year has a dynamic effect of its own that reflects a huge demand for accommodation.

8. Sound Market: Any property market is going to have its ups and downs, and Dubai will be no different. All the same, Dubai has a habit of frustrating those who wait for bargains. In 1998 some thought rental prices would collapse. It did not happen they are still on the up as is Abu Dhabi.

9. Dubai wants you: Dubai is in the process of creating an international property market from scratch. As a result overseas property buyers are being given an exceptionally good deal to encourage them to be the pioneers of this market with very low deposits.

10. Resale Market: As the second-hand market emerges and the legal position of owners becomes absolutely clear, the element of risk will go, and lower risk will mean higher property prices.

11. Economic Growth: Dubai is a city where a lot of people earn high tax-free salaries and are in a position to support higher house prices. This is a city with a 20-year track record of strong economic growth and will continue to attract foreign and regional inward investment for many years to come.

So why not buy in Dubai - it could be the best thing you ever did!

Buying a House in Scotland   Just Give Me Eleven Reasons To Buy In Dubai   Just Give Me Eleven Reasons To Buy In Dubai   

Just Give Me Eleven Reasons To Buy In Dubai

Buying overseas property is not always for the fainthearted but we think Dubai is an exception to this. Here are eleven reasons to buy in Dubai:

1. Property prices look cheap by International standards, and rental yields are still high in Dubai.

2. Rental Market: Long-term residents of U.A.E. are considering buying to replace rental payments and to take advantage of the ever increasing market demand for property in Dubai.

3. Future Development: There is a big change in the city's geography underway with huge plans for the future. What is the fringe of Dubai today, the Dubai Marina, will be uptown Dubai of tomorrow. Thus property values will follow this curve upwards, as people relocate to the new "Centre".

4. Good Prices: Comparatively property is cheap compared to other major cities in the World. Dubai villas cost around $1,000 per square metre. London on the other hand are selling apartments in London Docklands area at $5,000 per square metre an amazing difference.

5. Prime Locations: Oversupply is the main fear highlighted by skeptics. But there can only be so many properties in prime locations and the time to buy them is now. Most projects are now fetching three times their original price.

6. Freehold Laws: Legally, there is no law to prevent freehold purchase in Dubai, and a new federal law should shortly frame legal rights into a form acceptable to international banks for mortgages this will push demand and prices up even higher than they are now.

7. Demand for freehold property in Dubai is much higher than most people can comprehend and understand. Certainly an economy growing at 10% plus a year has a dynamic effect of its own that reflects a huge demand for accommodation.

8. Sound Market: Any property market is going to have its ups and downs, and Dubai will be no different. All the same, Dubai has a habit of frustrating those who wait for bargains. In 1998 some thought rental prices would collapse. It did not happen they are still on the up as is Abu Dhabi.

9. Dubai wants you: Dubai is in the process of creating an international property market from scratch. As a result overseas property buyers are being given an exceptionally good deal to encourage them to be the pioneers of this market with very low deposits.

10. Resale Market: As the second-hand market emerges and the legal position of owners becomes absolutely clear, the element of risk will go, and lower risk will mean higher property prices.

11. Economic Growth: Dubai is a city where a lot of people earn high tax-free salaries and are in a position to support higher house prices. This is a city with a 20-year track record of strong economic growth and will continue to attract foreign and regional inward investment for many years to come.

So why not buy in Dubai - it could be the best thing you ever did!

Buying a House in Scotland   Just Give Me Eleven Reasons To Buy In Dubai   Just Give Me Eleven Reasons To Buy In Dubai   

Just Give Me Eleven Reasons To Buy In Dubai

Buying overseas property is not always for the fainthearted but we think Dubai is an exception to this. Here are eleven reasons to buy in Dubai:

1. Property prices look cheap by International standards, and rental yields are still high in Dubai.

2. Rental Market: Long-term residents of U.A.E. are considering buying to replace rental payments and to take advantage of the ever increasing market demand for property in Dubai.

3. Future Development: There is a big change in the city's geography underway with huge plans for the future. What is the fringe of Dubai today, the Dubai Marina, will be uptown Dubai of tomorrow. Thus property values will follow this curve upwards, as people relocate to the new "Centre".

4. Good Prices: Comparatively property is cheap compared to other major cities in the World. Dubai villas cost around $1,000 per square metre. London on the other hand are selling apartments in London Docklands area at $5,000 per square metre an amazing difference.

5. Prime Locations: Oversupply is the main fear highlighted by skeptics. But there can only be so many properties in prime locations and the time to buy them is now. Most projects are now fetching three times their original price.

6. Freehold Laws: Legally, there is no law to prevent freehold purchase in Dubai, and a new federal law should shortly frame legal rights into a form acceptable to international banks for mortgages this will push demand and prices up even higher than they are now.

7. Demand for freehold property in Dubai is much higher than most people can comprehend and understand. Certainly an economy growing at 10% plus a year has a dynamic effect of its own that reflects a huge demand for accommodation.

8. Sound Market: Any property market is going to have its ups and downs, and Dubai will be no different. All the same, Dubai has a habit of frustrating those who wait for bargains. In 1998 some thought rental prices would collapse. It did not happen they are still on the up as is Abu Dhabi.

9. Dubai wants you: Dubai is in the process of creating an international property market from scratch. As a result overseas property buyers are being given an exceptionally good deal to encourage them to be the pioneers of this market with very low deposits.

10. Resale Market: As the second-hand market emerges and the legal position of owners becomes absolutely clear, the element of risk will go, and lower risk will mean higher property prices.

11. Economic Growth: Dubai is a city where a lot of people earn high tax-free salaries and are in a position to support higher house prices. This is a city with a 20-year track record of strong economic growth and will continue to attract foreign and regional inward investment for many years to come.

So why not buy in Dubai - it could be the best thing you ever did!

Buying a House in Scotland   Just Give Me Eleven Reasons To Buy In Dubai   Just Give Me Eleven Reasons To Buy In Dubai