So, you’re thinking of making a Maui real estate purchase? I certainly hope to be your agent of choice, however, I hope the below points will help you no matter who you choose. Don’t be surprised if it also helps you decide what you choose.
1. Why? Think about this carefully and please share with your agent. Why Maui? Reasons vary from client to client from the practical to the dream. I get the sentimental reasons, I met my husband here and with 2 kids + 2 grandbabies = Maui 4ever. You may have more practical reasons.
2. What? Choosing a primary residence may be easier; we all have to live somewhere – and whether it’s a single family home, a condo or a townhome – I can help you determine the pros and cons of them all. Investment property buyers need to consider all of the same above with the addition of considering vacation rentable properties. Does long-term renting make more sense than vacation renters? Not all types of property allow vacation rentals.
Which then brings me to vacation rental buyers. Are you hoping to use your purchase yourself? When and for how long? Are you looking for a property to accommodate the size of your family versus the size of units that rent the most? Who manages it? How much does that cost? Your answers may greatly affect the amount of income you may expect and hold on…it may make sense to buy a property you never.stay.in. What? And maybe you want to buy land and build your dream.
3. Where? Living on an island can sometimes be hard to explain; the majority of us here don’t want to drive anywhere. And don’t get me started if it’s raining. The area you’ve always stayed in may not be your final destination. (See my blog: Is it Time To Get Out of Your Beloved Hawaii Neighborhood?). I want to be your lifetime agent. We may have to start at studio condominiums out of your target area to either build rental income or equity (always hopeful for that) to prepare you for “moving on up.”
4. How? The most important of all these points. Find your money and get it in place first, before you talk to an agent, and certainly before you start looking at properties. There are 3 things I want to avoid more than a bad haircut as your agent:
- You finding your dream house and then being told there is no way you can afford it.
- You buying a home that stretches you so tight financially you never sleep at night. This is where a good, honest lender can also be your champion…even if they say no. Remember, you can move up!
- You using an expletive in front of my name…unless awesome is also somewhere in that sentence. I want to do a great job for you, every agent wants to do a great job for you.
Set Yourself Up For Success with the Right Agent
Seriously, this is a big choice no matter what your budget is or the type of property you are looking for. Starting with a great conversation to discover your wants, needs, and expectations can make any agent you choose your champion.
Still hope it’s me.