People buy vacation properties for many different reasons. For some it’s solely for the return on their investment and for others it’s a second home to travel when the frigid temperature rolls in.
If you haven’t thought much beyond the investment itself, here are some great reasons to buy a vacation home today!
1. Making Memories- Whether you are single, a couple or a family of five, a vacation home all of your own gives you a real chance to make memories. Yes, of course you can make memories while staying in a hotel but it’s not quite the same thing. Whether it be a summer cottage, beach house in the winter months or a cabin in the woods, there is just something about sharing your dream vacation home year after year with those you love. Inviting other families or friends to stay with you can often enhance that time. You’ll remember the experience in your vacation home forever.
2. It’s a Buyer’s Market- If you were ever planning to own a second home or vacation home, NOW is the time to buy. You are going to find rock-bottom prices everywhere. In Florida, you can find homes for 50-70% of their true value. There is something for everyone at every price point. Even if you think you don’t have enough, you’d be surprised at the beautiful condos near or on the water that are available. If you haven’t though too much about actually purchasing a dream vacation home and it’s been more of a nice though, now is the time to at least start looking at properties. It never hurts to look, you might be shocked by what is being given away, there are loads of foreclosures all over the country.
3. The Next Generation- So many people I know have the most wonderful childhood memories in their family’s vacation home. The best part is that those memories got to continue thanks to a wise investment on behalf of their parents. How awesome would it feel to not only enjoy your dream vacation home but get to pass it along to your children one day? You might not even have children currently or even be married for that matter, but it’s still a great reason to consider.
4. A Place to Call Your Own- I don’t know anyone that doesn’t enjoy travel. When you have a vacation home to call your own, there is the pride of ownership but there is also the reassurance that everything is as you left it. Travel becomes easier when you know some of your clothing and necessities are there waiting for you. There’s not worry about how clean your accommodations are, because YOU own them, unlike a hotel which is sometimes questionable upon booking. You can use the space, entertain and do as you wish in your own space. There is a greater sense of freedom in that regard.
5. A More Balanced Life-People that own vacation homes are more likely to take the time off from work for some much needed rest and relaxation. It’s easy to say you’ll go away next summer, next year, etc. When you have a beautiful vacation home waiting for you, you’ll make the time, which will in turn help you live a more balanced life. After all, we work too hard not to!
6. Location, Location, Location- If you’ve fallen in love with Cozumel, the sandy beaches of Clearwater or even a village in Tuscany, that alone is great reason to buy your dream vacation home. If you find yourself going back to the same spot over and over, or wish you could, it might be time to invest in a vacation home. Just be sure that whichever area you choose is truly the one that’s most right for you and you’ll always be happy.
7. Rental Income- The great thing about a vacation home is that you have the option of generating income by renting it out during the weeks or months that you won’t be using it. You could quickly and easily have a steady stream of income coming in year round. For many it’s not only their dream vacation home but it’s also a way to save for their future-it doesn’t get much better than that!
What’s YOUR reason for wanting to buy a vacation home? Share it with us, we’d love to know!