Buying a second home is a big decision. Often, this is the place you want to retire to or spend the majority of your spare time at, so you want to make the right decision for you. The Peninsula on the Indian River Bay offers up resort living at its finest with the first private Jack Nicklaus Signature designed course in Delaware, designed with an eye of conservation for Indian River Bay. There is a state-of-the-art fitness center, tennis courts, and world-class dining experiences all within walking distance of your home. The community clubhouse is the hub of activities, hosting all activities from book clubs to special nights out. Below, we’ll offer up tips on how to buy a second home, and when you begin your search, be sure to contact us first!


  1. Don’t impulse buy. Remember, a second home is a big investment, both financially and for your future. Just because you had an amazing vacation in the Virgin Islands or Hawaii doesn’t mean to want to own a home there. Location is important, and you want to choose a spot when buying a second home you’ll return to again and again.
  2. Purpose and use. If you are buying a second home to use on the weekends or for family get-togethers, odds are, you’ll want a second home close by. If you want a second home to escape to a few times a year and maybe be your retirement home, then distance and climate will play a bigger factor. If you are buying a second home for income reasons as a rental, then location will be everything. You’ll probably want to buy a condo in a resort town, or an older home near a college campus to cater to either students or young families studying.
  3. Size. Purpose will play into this consideration as well. If you’re buying a second home to host family in, you’ll want a home with lots of bedrooms. If you’re buying a home for weekends in the mountains to go skiing, a condo is your best bet. Condos are much more lock-and-go communities with less upkeep than a home.
  4. Consider hidden costs. If you are buying a home on the beach, you’ll have to carry flood insurance on your homeowner’s policy, which can jump the price of insurance up. If you buy a home, someone will have to mow the lawn while you’re away. If you buy a condo, HOA fees will probably cover most of your upkeep while you’re away. A property management company is a great alternative for you if you’ll be away for long stretches of time from a home, or if you are planning to rent your home for income purposes. A good rule of thumb is to plan for two percent of the home’s value for maintenance and upkeep costs.
  5. Hire a local real estate agent. You’ll want someone who knows the best places and the best prices of the real estate market for your second home purchase. Only those who have their feet on the ground have this insider knowledge. They will have the inside scoop on preferable neighborhoods, the pros and cons of a particular home, current market prices, nearby amenities, and ease of access, especially during inclement weather.
  6. Visit a reputable mortgage broker. Know what you can reasonably afford when buying a second home. You don’t want to fall in love with a home that’s outside of your price range, or waste time looking at homes you don’t qualify for. Plus, you don’t want to be house poor, meaning you can afford your home, but because of how much the mortgage is, you have no extra disposable income to do anything else. Experts recommend putting that extra payment into a savings account to see if you really can afford the mortgage payment and if you’re comfortable with it. Consider financing your second home because of the tax incentives, which are different than first home mortgages. You’ll want to check with a tax professional on how much the interest of your second home  you would be able to deduct.
  7. Invest with a partner. Fractional ownership is a viable option for second home ownership if you believe you won’t be spending a lot of time there. Join in with friends or relatives on a property or a time-share to make second home ownership more affordable.

Buying a vacation home can be a challenge, but with the right attitude and great pre-planning, owning a second home can be rewarding. The Peninsula on the Indian River Bay is one such resort community where second home ownership would be a dream come true. With so many amenities, including indoor, outdoor, and wave pools, a state-of-the art gym, a professional tennis facility, a basketball court and a full service spa, this golf community is one-of-a-kind resort living. Golf enthusiasts will find the world-class Jack Nicklaus Signature Golf Course a true delight and being on the Delaware shore near a protected nature preserve. After a long day out and about, return home to a full-service restaurant and bar, serving up the best seafood around. Plus with a private beach and shore, and being on the Atlantic Ocean is a seafarer’s delight. If you love to sail, to deep-sea fish, or just to enjoy the air, The Peninsula on the Indian River Bay is a treasure you’re sure to fall in love with for a second home. Contact us today!