Date Archives: July 2014

Creating a Lifestyle for Virginia Home Owners

Spring Lakes at the Woodlands, located just one mile south from historic Staunton, Virginia is a residential, country club community with a beautiful 300-acre, pastoral setting.  Nestled among the Allegheny and Blue Ridge Mountains, Spring Lakes provides its residents with more than a house: They acquire a Lifestyle.

Developed by The Lester Group, Martinsville, VA, Spring Lakes combines the best of country living with urban appeal making it the ideal, livable community.   Tim Armentrout, REALTOR® from Old Dominion Realty - Fishersville, and listing agent for Spring Lakes commented, "Spring Lakes' green fields and wide roads are hard to resist.  Sometimes living in the country does not provide the lifestyle many people want.  At Spring Lakes, we offer families a variety of housing selections including a Cottage Courtyard Home, Town Home Villa, or a single-family detached home with more amenities than typically found in this area."

Spring Lakes' homeowners enjoy 40 acres of green space, and neighborhood recreational facilities including a club house, a community swimming pool, tennis courts, and a pedestrian trail system.  Meet friends for tennis, take the children to the pool, or enjoy a workout in the clubhouse. Experience the serenity of the pedestrian trails. Bike, rollerblade or just take a leisurely stroll.  At Spring Lakes it's like having your own country club to enjoy as you like.

Mr. Armentrout continued, "Springs Lakes is a livable community where neighbors become friends and feel a part of their distinct community.  This is an area that satisfies the needs of people at all stages in their lives:  Singles, young families with small children and seniors will find a home at Spring Lakes."

"The Lester Group and Mark Ingram from Landmark Home Builders Inc. have worked countless hours to create a sense of architectural timelessness and a consistent character with attractive streetscapes emphasizing quality, not quantity," said Mr. Armentrout.

Conveniently located on State Route 613 in Augusta County, Spring Lakes' home owners enjoy easy access to shopping, restaurants, employment, not to mention Staunton's historic downtown.  Contact Tim Armentrout at Old Dominion Realty for more information about Spring Lakes at the Woodlands.

Buying a second home (or vacation home) can be a very smart decision if you have the financial means to do so. However, owning multiple houses is also a huge financial commitment. You must make several important considerations if you want to successfully choose and purchase another home.

What Kind Of Vacation Home Will You Buy

People commonly buy a second home as a rental property, an investment to sell later, or a vacation home. When buying a second home it is important to know what you will use it for because the home's purpose will influence the place that your new home is located. For example, if you are buying property to be used as a vacation home, you will want to choose a property in an enjoyable location. On the other hand, if you want to choose an investment property, you should choose one that is in an up-and-coming neighborhood.

Understand The Tax Implications of Owning a Second Home

When you buy a second home you are subject to several different kinds of taxes. Nolo reports that people buying a second home will not only have to pay property taxes, they also have to pay income tax. Be sure to consider the local taxes in the place that you are buying a home so that you are prepared to deal with these costs.

Protect Your Home

Owning property that you do not live in full-time means that you have to invest in keeping your home safe from harm and damage. You should decide as soon as possible what kind of protection you want to get for your home. Getting a home alarm system, regular home inspections, and hazard insurance are all important parts of keeping your home safe from both burglary and damage from the forces of nature.

Thinking about these three concerns when buying a home is very important. There are plenty of other factors to consider depending on where you are buying a second home and how far along in the process you are. If you have any questions about buying a second home, contact the real estate specialists at Old Dominion Realty to get them answered.