Buying A Vacation Property

Dated: 01/23/2019

Views: 207

Buying A Vacation Property? Now Is A Good Time!

Buying A Vacation Property Hollywood FL

Every year around this time, many homeowners begin the process of preparing their homes in case of extreme winter weather. Some others skip winter all together by escaping to their vacation homes in a warmer climate.

For those homeowners staying at their first residence,AccuWeather warns: “The late-week cold shot should fade next week, but this is a warning shot for winter’s return late in the month and early February.”

Given this, it’s time to go and stock up on winter weather supplies! However, if you’re tired of shoveling snow and dealing with the cold weather, maybe it’s time to consider obtaining a vacation home!

According to the Investment & Vacation Home Buyers 2018 Report by NAR72% of vacation property owners and 71% of investment property owners believe now is a good time to buy.”

It’s time to take advantage of the equity in your home. As the latest Equity Report from ATTOM Data Solutions stated: “Nearly 14.5 million U.S. properties (are) equity rich — where the combined estimated amount of loans secured by the property was 50 percent or less of the property’s estimated market value — up by more than 433,000 from a year ago to a new high as far back as data is available, Q4 2013.

The 14.5 million equity rich properties in Q3 2018 represented 25.7 percent of all properties with a mortgage.”

This means that over a quarter of Americans who have a mortgage would be able to use some of their home equity to make a significant down payment toward a vacation home, and many are doing just that! According to the same report by NAR: “33% of vacation buyers purchased in a beach area, 21% purchased on a lakefront, and 15% purchased a vacation home in the country.”

Many homeowners who are close to retirement will use some of their equity to purchase vacation homes, which may eventually become their permanent homes post-retirement!

Bottom Line

If you are a homeowner looking to take advantage of your home equity by investing in a vacation home, contact an agent in your area to discuss your options!

Let’s check what are the best deals for homes in Hollywood, FL today? http://bit.ly/HollywoodReduced

If you have questions about this, comment below and I’d be happy to help!

Kate Smith Group / Brosda and Bentley Realtors
786-412-8510 | HomesForSaleHollywoodFL.com
“Everything I touch, turns to SOLD!”

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Kate Smith

Real Estate is my full time, life time career choice and my commitment is to give you full-time attention and to provide a superior level of informed, professional real estate services to buyers and s....

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