About this time of year you hear, particularly at East Greenwich’s better watering holes, conversation includes the successes of the Patriots and the Red Sox. But there is another conversation underway: When are you going south? Are you spending Thanksgiving in Naples this year? Many people have delayed their departures this year due to the weather and the World Series, but the fact remains that many are on route. While no really precise numbers exist, it is accurate to suggest that the number is significant. One area condominium will see seventy percent of the members going south. Some of these people are true Snow-birds, people who travel to Florida, Georgia, the Caribbean, etc for the winter. Snow-birds lead the North and spend winter in the warmth. Snow-birds are an indigenous species here in Rhode Island. Every winter they migrate south.
There is another group called Splitters. WCI, the large Florida developer, coined the phrase: “people who own at least two homes and split their time between them for recreation, work-life balance, or to connect with family and friends.” Splitters are distinct from snowbirds as splitter travel back and forth between their homes four or five times, while snowbirds do so once maybe twice. Some splitters travel between their homes four and five times a month. Incidentally, super-splitters, Nicholas Cage, Oprah, Mel Gibson and the like, have multiple homes. Some of my recent clients fit into that category with a main residence in Florida, a home in Manhattan, a home in Stowe, Vermont and a getaway in Rhode Island.
Not sure how many snowbirds and splitters there are in Rhode Island, but there are many. The number is also increasing. How many former Governors are actually legal residents of Rhode Island?
Many of the migrant Rhode Islander rely on family to look after there homes while they are gone. Some people rely on electronic monitoring. Your security company can monitor unauthorized entry, low temperatures, water in the basement etc. Some ‘smart homes’ can be supervised remotely by sellers from any location on the globe. Obviously, leaving a home vacant increases the chances for more serious problems, but careful planning and preparation can minimize those risks.
Some people have opted to compliment their electronic monitoring with professional management services. These services actual go to the property on a scheduled basis to identify minor issues before they become major. The building is checked for security, maintenance, and necessary repairs. Typically they charge a monthly fee to monitor, and then a fee if they need to organize repairs and service people. When one looks at the cost of home and the potential risk, these services are inexpensive. There are a few companies in the area, including Phipps Real Estate Services that are engaged in the business.
So whether you want to hire professional help, or have family resources, make certain to have a plan to protect you home as you migrate to your winter nest.
Log into www.phippsrealty.com for more information
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