Home Update: Buying a Vacation Home
5:22:00 PM
Sales of vacation homes recently jumped nearly 60%, which means this sector now accounts for more than 20 percent of the total real estate market. The reason behind the surge can primarily be attributed to the following:
- Prices for vacation homes are at a low point
- Many Baby Boomers have recently become empty-nesters and rather than sit around staring at the same four walls, they've decided to buy property in a favorite vacation setting.
- The stock market has been quite volatile lately. In response, many younger Americans are now looking for a more dependable investment, like real estate.
- Some have become intrigued with the idea of not only owning and enjoying a vacation home, but also generating rental revenue from it.
- Other view a vacation home as something they can use to entice their children to attend future family get togethers.
January 2016 - Copyright 2015 Windermere Services Company. All Rights Reserved.
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