Summer is here, and with it comes the perfect opportunity to relax, travel, and explore new places. If you’ve been considering a peaceful retreat or an investment property, now might be the ideal time to think about buying a vacation home.
A recent Ameriprise Financial survey sheds light on why many people choose to invest in second homes (see below):
- A personal retreat from everyday life (81%) – A vacation home offers a stress-free getaway whenever you need one.
- Better weather (49%) – Escape colder climates by buying in sunnier locations.
- Rental income (41%) – When you’re not using the property, you can generate passive income by renting it out.
- Future primary residence (33%) – Some buyers plan to retire in their vacation home down the road.
- A venue for family gatherings (25%) – Create lasting memories with loved ones in your own space.
How To Make a Vacation Home More Affordable
Buying a vacation home doesn’t require a fortune. Bankrate suggests two ways to make it more achievable:
- Co-buy with friends or family – Split the cost and responsibilities while enjoying shared access.
- Start saving early – Set up a dedicated savings plan and make consistent contributions over time.
Work With a Local Expert To Find the Right Property
Summer is one of the busiest times for buying vacation homes, so getting a head start is key. A real estate agent who knows the area can help you:
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Understand the local market
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Find available properties that match your needs
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Navigate vacation home loans and local regulations
As Bankrate points out:
“Buying real estate in a new area — or even one you’ve vacationed in for many years — requires expert guidance. That makes it a good idea to work with an experienced local lender who specializes in loans for vacation homes and a local real estate professional. Local lenders and Realtors will understand the required rules and specifics for the area you are buying, and a local Realtor will know what properties are available.”
Thinking About Buying a Vacation Home?
Whether you're dreaming of warm beach days, weekend getaways, or planning for retirement, a vacation home might be the next smart step. If you're ready to explore your options, let’s talk.
The information and opinions in this article are not investment advice. Tim Stice makes no guarantees about accuracy or completeness. Always do your own research and consult a professional before making financial decisions. Tim Stice is not liable for any loss or damage resulting from reliance on this content.
Tim Stice, Broker Realtor | Hawaii Life | Maui, Hawaii | Real Estate Agent
Tim Stice, Broker Realtor | Hawaii Life | Maui, Hawaii | Real Estate Agent
