If you already own a house, you probably have a pretty good idea about the rights, responsibilities, and financial obligations of homeownership. And if your experience as a homeowner has been a generally positive one, you might have toyed with the idea of buying a second piece of property.
Why should you consider buying a second home?
Four reasons spring to mind: Finances, Fun, Family & Future.
Finances. In addition to the tax benefits of owning a second home, a rental property can boost your finances, giving you cash flow each month. And while all assets fluctuate in value in the short term, vacation properties are more likely to retain their value and appreciate simply because they are located in popular areas with a geographically limited supply. There is a finite shoreline on which houses and condos can be built, and only 18 holes on a golf course.
Fun. A vacation home can be loads of fun, serving as a place to stir memories, relationships, and good times. With the endless activities to do in our area - most of which are outdoors - it not only serves as a ton of fun, but helps keep you active and healthy.
Family. Our area is known for drawing families together and serving as a place where they can get away from it all and create a rich heritage of wonderful memories and tradition. There is something about the salty sea breeze, warm beach days, and sunset beach walks that are forever cherished by those who experience them. The intangible benefit of owning and passing property from generation to generation – especially a home that has been and will continue to be the site of many happy gatherings – is incalculable.
Future. Lastly, you can buy a second home for your golden years, locking in your future retirement home at today's prices.
Are you thinking about investing in a second home now or in the future? Feel free to let me know and I'll be happy to walk you through the process and help you find the perfect property.
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