The Top 5 Things to Look for When Buying a Second Home in Southeast Oklahoma
Purchasing a second home is an exciting endeavor. Thankfully, Southeast Oklahoma has so much to offer. When it comes to investment value, scenic beauty and recreation, you can’t do better than this special region.
Let’s take a look at five key considerations when buying your second home in Southeast Oklahoma.
Location
Okay, this one might seem obvious, but bear with us. When it comes to a second home, there are two main aspects about the location to consider.
Are You in Love With the Location Itself?
Southeast Oklahoma is plentiful when it comes to nature and outdoor recreation. Our surroundings mean you can breathe deep and let the hustle and bustle of the city slip away.
For many, Southeast Oklahoma has become an escape where life can slow down a bit and you can focus on things you really enjoy. This can mean spending quality time with loved ones, going for walks, fishing, boating, hunting, horseback riding, sitting by the fire, the list goes on.
Not only does it offer more time with nature, but Southeast Oklahoma is a wonderful community. There are several nearby small towns with great local businesses, restaurants and annual events.
Timber Ridge also offers wonderful amenities such as an events pavilion that owners can also use at their leisure, pickleball courts and stocked fishing ponds. There is truly always something to do out here
Distance: Are You Willing to Make the Drive?
Another factor when it comes to the location of your second home is how far it is from your first home. You don’t want it to be too far that you don’t utilize it enough, but you want it to be far enough away that you feel like you’re truly on vacation.
Timber Ridge Estates is about a three-hour drive whether you’re coming from the DFW area or Oklahoma City; two areas in which many of our residents reside. This distance means it’s an easy trip so you don’t spend all day in the car, but it also gives you the chance to feel like you really are “getting away from it all”.
This short distance also means that you will have the opportunity to spend plenty of time here to get the most out of your investment.
2. Property Maintenance
A common concern about owning a second home is often how to keep it maintained to your standards. One of the wonderful aspects of Timber Ridge Estates is that we are a community with a HOA. Unlike having an isolated home in the mountains where it’s up to you to keep the roads clear, we take care of that for you.
At only $600 per year, the roads and trails are always well maintained. Additionally, other amenities such as the fishing ponds, pickleball courts and events pavilion are taken care of for you. This means less stress and worry for you as the entire property is in good hands.
Not only that, but we can connect you with trustworthy property managers to check on your specific home and property if ever needed.
3. Cost of Living
Owning a second home in Southeast Oklahoma needn’t be cost prohibitive. Oklahoma is ranked as one of the states with the lowest cost of living. Cost of living includes the property purchase price, taxes, utilities, groceries, gas and so forth.
This lower cost of living means purchasing a second home here at which to vacation or retire is more feasible for many folks. Not only that, a real estate investment can really boost your portfolio.
There is no such thing as new land being made, so having a gorgeous piece of it for you and future generations of your family is such a special privilege and opportunity.
4. Rental Potential
While the cost of living here is low, there is one excellent way to offset the costs of your second home. Many Timber Ridge Estates property owners do rent out their homes during parts of the year.
How you manage this is entirely up to you. You can choose to only rent to family and friends or more publicly; whatever you are comfortable with. In this way, not only do you earn some extra income, you are also sharing this beautiful area with others.
5. Purpose
Finally, consider the purpose (or purposes) of your second home. For example, right now it may be the vacation home where you get to gather family and friends for fun and connection.
When you retire, this second home could become your permanent home. You could also ensure that future generations of your family inherit your second home in order to continue your legacy and family traditions.
To Sum Up
Before purchasing your second home in Southeast Oklahoma, here are a few tips about each of the five considerations we’ve listed:
Location - Visit the area a few times and at different times of the year. In this way, you’ll get a feel for if it’s the right fit for you. Also, consider how you feel about the drive.
Property Maintenance - If you think you’d like someone to manage your property when you can’t be there yourself, reach out to a few companies first. Speak to other homeowners about how they manage their property and if they have any recommendations.
Cost of Living - Make sure you have a budget plan before you buy. Consider your financing options, including mortgage rates, loan terms, and down payment requirements.
Rental Potential - Don’t forget to factor in how your second home can bring him extra income if you so wish.
Purpose - Think about how you want to utilize your second home both now and in the future, and for future generations in your family.
As always, feel free to reach out to us with any questions or to schedule a visit. Come see for yourself what a second home at Timber Ridge Estates can be for you and your loved ones.