Why Buying a Vacation Home Beats Renting One This Summer
For many of us, visiting the same vacation spot every year is a summer tradition that’s fun, relaxing, and restful. If that sounds like you, now’s the time to think about your plans and determine if buying a vacation home this year makes more sense than renting one again. According to Forbes:
“. . . if the idea of vacationing at the same place every year makes you feel instantaneously relaxed, buying a vacation home might be a wise move.”
To help you decide if making a move like this is right for you, let’s explore why you may want to consider purchasing a vacation home today.
You don’t have to worry about finding a place to stay. It can be a challenge to find a rental where you want, when you want. Some summer vacation destinations are more popular than others, meaning your favorite place may be booked up in advance. Bankrate explains why owning your vacation home means you don’t have to worry about that sort of inconvenience:
“. . . a second home can offer a place to have quality time with your family and ensures that you always have a vacation destination.”
It’s an investment. Home values typically appreciate over the long haul. That holds true for your vacation home as well, especially if it’s in an area with growing market demand. This can help grow your net worth with time.
Vacation homes may provide tax benefits. If you own a vacation home, you may be eligible for tax deductions based on where it is. However, before buying, you’ll want to consult with a tax professional to discuss first as taxes can vary by location.
It could potentially turn into a retirement location. If you love the location of your vacation home, you could potentially sell your primary residence and retire there in the future.
As you’re preparing for summer vacation, remember, you could potentially visit your second home instead of another rental unit or hotel. If that sounds appealing to you, a
local real estate agent is your best resource. They have the knowledge and resources to help you understand the area and what vacation homes are available in your budget. Plus, these agents can explain the perks of how owning a second home can benefit you.
If any of these reasons for owning a vacation home resonate with you, let’s connect. You still have time to enjoy spending the summer in your vacation home.
Congratulations on your new home! Buying a house is a significant milestone and an exciting adventure. However, homeownership comes with responsibilities, including m… Read more
So you're ready to buy a home. Here are 111 possible to do's to make your dream happen. Or, scroll to the end to see how to make the process so much easier.
Welcome to Essex County, New Jersey, where summer comes alive with a vibrant array of festivals, attractions, water sites, music, and so much more.
Selling your home without the assistance of a realtor might seem like a viable option to save on commission fees. However, navigating the complexities of the real esta… Read more
If you’ve seen the news lately about home sellers slashing prices, it’s a great example of how headlines do more to terrify than clarify. Here’s what’s really happenin… Read more
If you’re thinking of making a move this year, there are two housing market factors that are probably on your mind: home prices and mortgage rates. You’re wondering wh… Read more
Selling your home is a significant milestone that requires careful planning and decision-making. One of the most crucial choices you’ll make is selecting the right rea… Read more
The number of homes for sale is playing a big role in today’s housing market. And, if you’re considering whether or not to list your house, today’s limited supply is o… Read more
In today’s housing market, more and more single women are becoming homeowners. According to data from the National Association of Realtors (NAR), 19% of all homebuyers… Read more
Want to stay one step ahead of the market? Sign up to be on Dyanna's VIP mailing list to receive exclusive listings, real estate news and a lot more.