Have you ever dreamed of owning a weekend getaway on the Central Coast? Perhaps you peek at the real estate section of our local paper when you are in town or slow down and dream about owning that home with the For Sale sign in front? Have you ever pictured yourself retiring here? If you’ve answered yes to any of these questions, your daydreaming has moved you into the group of potential second home buyers.
Interest rates are at historically low levels, housing affordability is steadily improving, and the surplus of available properties on the market has left buyers in a really good position of late. According to a recent survey compiled by THE NATIONAL ASSOCIATION OF REALTORS®, vacation home buying has been making a strong comeback as the economy has begun to recover. That report showed that 553,000 vacation homes were sold in the U.S. last year, an 8% increase from 2008, when consumers were hunkered down during the worst of the recession.
You may think that most second-home buyers are wealthy, but that is really not the case at all. The typical buyer is 45 years old and is married with a medium income of $87,500.
Are you a good candidate to own a second home? The list of factors to consider is enormous, and so are the potential benefits (enjoyment, appreciation, tax breaks, etc….). Please contact me or another member of the Keith Byrd Team and we will be happy to provide you with the tools you need to make an informed decision, whether you are looking for that perfect weekend getaway or investment opportunity. The right time may be now!