Would you like to create a dream vacation home that you can use for rest, relaxation and recreation? Market studies show that sales of second homes now account for more than one-third of all residential real estate transactions, so buying a vacation retreat is an excellent investment.
Focus your home search on the areas you most love to visit. Most vacation homebuyers choose a location that is between 50 and 100 miles from their primary residence. The typical purchase is a single-family home of approximately 1,200 square feet.
One of the delights of purchasing a vacation home is modifying it to reflect your unique tastes and preferences in home design and furnishings. In planning the changes you are going to make over time, it is important to remember that you may decide to sell the property some day. Perhaps you will find another, more desirable house in the same area, or decide to trade your mountain ski lodge for a tropical beachfront villa.
No matter what the location, you should buy, build or remodel a home with features that withstand the test of time.
What home design features are the most popular among buyers of vacation properties?
Vacation homeowners want to achieve the maximum in comfort, privacy and well-appointed living space. Dual walk-in closets, dual vanity sinks or his-and her bathrooms in the guest suite or master bedroom are popular features. Give the master bath a spa-like feel with a luxurious soaking tub overlooking a private garden or a spectacular view of the natural surroundings. French doors opening to private decks or patios off the master bedroom or guest suite provide gracious access to the outdoors and a place to enjoy morning coffee in the fresh air.
Outdoor living spaces are excellent ways to expand the overall design. If your second home is in a beautiful natural setting, include plenty of windows and doors that open onto verandas, decks or sitting areas that make the most of a magnificent landscape. Expand your vacation home’s potential by adding an outdoor cooking area, swimming pool, hot tub or landscaped garden.
By including features with proven appeal, you will add to the resale value of your home away from home.
Valuation of any home takes into account its size, features, condition and location. Of these factors, location is the one element that cannot be altered. A home in a high demand location will always represent a greater market value than a comparable home in a less desirable location. Buyers who can afford to pay top dollar for a select property usually choose homes priced in the top ten percent of the market in the finest locations.
Proximity to the finest goods and services is important for luxury homebuyers who maintain an active social calendar. These buyers want access to high-end boutiques, five-star restaurants and catering, spa facilities and cultural venues such as theater, concerts and art galleries. Upscale home and condo prices have skyrocketed in and around many of the nation’s predominant cities and associated suburban areas.
Locations that offer outstanding recreational opportunities in exquisite natural surroundings are another strong preference for luxury homebuyers. Beachfront and inland coastal properties in neighborhoods that offer breathtaking ocean views are in high demand. Second-home investments keep property values strong in upscale seaside resort areas.
The best locations offer the best real estate investment potential.