As we move through the heart of summer, many Sacramento-Tahoe residents are enjoying their annual vacation trips to the lake, the mountains, the coast or perhaps tropical locales like Hawaii or Mexico. Relaxing in such a beautiful setting often makes travelers think about owning their own vacation home so the holiday never has to end.If thoughts of owning a second home have crossed your mind, you’re not alone. In fact, vacation home sales have been surging in recent years as consumers take advantage of historically low mortgage rates and more affordable prices on many second homes.
According to the National Association of REALTORS®, vacation home sales jumped 29.7 percent last year to an estimated 717,000 units from 553,000 in 2012. That compares to a 13.1 percent increase in owner-occupied purchases during that time. If you are thinking about buying a second home, here are a few important things to consider:
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As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office. I hope it has been of value to you. Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!
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