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What to Look for in a Vacation Home
Manage episode 181819038 series 1410178
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Investing in a secondary or vacation home is a great way to make money and enjoy the Vero Beach lifestyle.
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Vacation and second homes are very popular in our area. Many people purchase a second home that they only use occasionally for the first few years, but eventually move into permanently.
The Wall Street Journal and the National Association of Realtors reported that prices of vacation properties are very close to a level last seen before the housing crisis. Secondary homes appreciated 4.2% in 2016, following a 28% gain in previous years.
There is no question that demand for real estate is up in Florida. Before you purchase in an investment property, there are a few things you should consider:
- Budget: How often do you intend to use the property? What kind of income can be generated based on your usage and the seasonality of the population?
- Location: Most vacationers want to be close to the beach. The good news is that here in Vero Beach, most homes are only 15 minutes away from the shore.
- Entertainment options: Is there a pool on the property? What about golf courses, restaurants, or shopping nearby? Your guest will want plenty of things to do while they are here.
- Activities: Stock up on kayaks, paddleboards, fishing supplies, and more so that your residents can enjoy their time here.
Our little piece of paradise continues to attract vacationers and snowbirds alike thanks to our friendly, relaxed lifestyle.
In Vero Beach, most homes are only 15 minutes away from the shore.
As the owner of a vacation home, you will enjoy more profit and fewer headaches by purchasing a newer home. Not only will you have less maintenance, but new construction aesthetics really appeal to vacationers. Condos and reasonable new construction properties are good options for you.
Before you sign the dotted line, though, review the Homeowners Association documents and confirm that rentals are permitted. Beware of certain restrictions, like pet policies or the number of times you can rent out your unit.
If you have any questions, please don’t hesitate to reach out to us. We would love to help you find that perfect vacation property!
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