Considerations When Purchasing A Second Home On Cape Cod

Owning a second home is a dream come true for most people. We all fantasize about our own little getaway, whether it be for the weekend or even an entire summer. For Boston residents, purchasing a second home on Cape Cod is ideal. It’s close to the city, has beach access and lets us get away from the busyness of life when we need it. But is it the right move for you?

If you are on the fence about whether to purchase a second home on Cape Cod , here are some considerations:

  • Does it make financial sense? If you’re tired of putting money into vacation rentals and think owning a second home might be the right step for you, talk to a local real estate agent. Factor in the costs of a second mortgage, real estate and tax bills and year-round upkeep. If you purchase a second home on Cape Cod, are you willing to offset the cost by renting it out when you’re not using it?
  • Co-Ownership: If the thought of renting out your place is unappealing, but you don’t want to take on the full financial burden of a second home, consider co-ownership. Buy your second home with a close friend or family member.
  • Location: Do you want a second home with water access or are you willing to walk a block or two to the beach? Where on the Cape do you want to buy? Homes tend to be more expensive the further out you go.
  • Maintenance: It’s hard to take care of a home when you’re not there year round. Hiring a company like Simplified to check in on your home when you’re not there is the easiest way to ensure it stays in tip top shape.

If you need more information, our knowledgeable concierge team is available to answer all of your questions about our Cape Cod Home Management Services!

Editor’s Note: This post was originally published in September 2017 and has been updated in October 2021 for accuracy and comprehensiveness.