Real Estate Trends - Vacation Homes as Investments
Across the country, many people are buying second homes in America today. Although a sizable number of vacation home buyers plan to retire in those homes someday, another segment hopes their second home will do double duty--as a vacation getaway and an investment property. If you fit into the latter category, here are five areas of the country where you might want to begin your search.
- There are trade-offs to buying a second home in an area that's going to become one of THE hot places of the future, because you won't be the only one looking in that area, and it's going to grow quickly, bringing in more and more people. However, if those factors don't deter you, here are a few tips on how to look for a vacation property that will also prove to be a good investment over the long haul.
- Of course, a beautiful setting and decent weather are first and foremost, but the property must also meet a number of other criteria, as well. You'll want to begin your search in smaller towns that are still within a two or three-hour drive from a growing urban area with a large airport.
- There should be plenty of recreational opportunities. And that means things to do other than just shopping. Depending upon your personal taste, that typically means near a ski area, a beach, or in the mountains.
- It's also nice to have some cultural amenities nearby, since you won't always be in the mood to do strenuous physical activities. So make sure there are both stage and movie theatres, and it