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.
