Note: Although this article mostly discusses vacation homes, the same concept applies to purchasing investment properties, land, or a second home.
The National Association of Realtors recently posted an article on LinkedIn about the skyrocketing sales of vacation homes as a result of the pandemic. This trend began last summer when most states were on lockdown and that trend has only strengthened as people have a greater desire to own a second home particularly those living in large metro areas where many lockdowns were much more restrictive. As per the article, according to The 2021 Vacation Home Counties Report, “buyers flooded the real estate market in the second half of 2020 and through April 2021, causing vacation home purchases to rise expeditiously.” The option to work remotely and low-interest rates are helping to drive the vacation home market.
Have you been thinking of buying a vacation home, but don’t think it is a possibility? You might be surprised that you can own your dream vacation home. The low-interest rates make owning a second home much more obtainable. Another added bonus is that the interest paid on a second home is tax deductible for many people. Many second-home buyers are thinking outside the box as they are opting for more than the standard condominium on the beach. They are looking for properties that offer a break from everyday life such as a small house on a little acreage with room for the kids to play and explore outdoors. How about a log cabin situated on rolling hills?
Are you ready to make your vacation home dream a reality? Give Stutesman Action Realty a call today at 833.286.8400. A professional real estate agent will help you find the perfect second home.