Buying A Vacation Property

Dated: 01/23/2019

Views: 230

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!”

Blog author image

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....

Latest Blog Posts

Happy New Year 2020

Happy New Year 2020!Happy New Year from Hollywood Realtor Kate Smith at Brosda and Bentley Realtors. Here's wishing you a very Happy New Year, filled with happiness, success and prosperity! May

Read More

Spectacular Townhouse For Sale 760 Meridian Miami Beach

Spectacular Townhouse For Sale 760 Meridian Miami BeachStunning South Beach Home 760 Meridian Ave 1&2 Miami Beach, FL 33139This magnificent South Beach residence at 760 Meridian Avenue, Miami

Read More

December 2019 Calendar Of Events In And Around Hollywood

What are the best events in and around Hollywood, from Miami to Fort Lauderdale? 💃🎸 Find out 👉 https://youtu.be/wBgDZvnMWTgDay or night, there's always something sunny going on in our

Read More

Black Friday In Real Estate

Black Friday in Real EstateWhat is Black Friday in Real Estate? Black Friday in Real Estate means big deals, REAL deals, saving you a lot more than Black Friday in the mall. Save hundreds of

Read More