A second home in a hot location provides the buyer with a desirable vacation get-away, secured returns, tax benefits and incredible long-term investment potential. Yes, there are always going to be more people competing for the same sandy beaches or waterfront properties, but that means there will always be eager buyers and renters to support ongoing home price appreciation.
The most elite locations often draw huge numbers of out-of-town visitors each year. They come to enjoy a wide range of outdoor recreational activities in exquisite natural surroundings. Take a tip from international investors and buy your second home in a location that offers a warm, semi-tropical climate that permits year-round swimming, sailing, fishing and golfing. Popular destinations are usually located within a few hours drive of a major city or close to a major airport. It is not uncommon to see well-known celebrities enjoying tanning on the beach or dining at fine restaurants.
Beautiful weather, beautiful scenery and beautiful people create a winning combination for second-home investments.
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.