Real Estate Investment 101: Getting Started

Why Vacation Properties Are Not Frivolous Buys

Getting away from everyday life is more of a necessity than you might think for you and your family. You wouldn't consider a doctor's visit for a check-up to be a luxury, so neither should you consider a vacation to be a frivolous pursuit. Read on to find out why you should not overlook owning your own piece of paradise.

Ease of Use – You may be all the more likely to take those needed respites when you know your vacation is just waiting for you. No need to worry about making reservations or searching out that perfect property for your next getaway – just pack a bag and go. Depending on the size of your vacation property, you could be making memories for more than just you and your immediate family. You can invite friends, other family members, companions for your kids, and more without having to worry about the extra cost of renting another room or a larger property. Packing is also a breeze if you keep your property stocked with sports gear, food staples, clothing, and more.

Financial Benefits – While some may view a vacation home as an extravagance, that might not necessarily be an accurate assessment. Vacation homes in sought-after resort areas tend to rise in value year after year, making them an excellent investment for the future. Many families take things a step further and actually turn their vacation property into a money-maker by arranging for it to be rented by others seeking a break. You might not only make enough from vacation rental income to pay the loan and other expenses, but you might even earn a profit on your investment. Be sure to use a trusted property management company to take care of dealing with customers, cleaning, repairs, etc. You might also want to reserve a large (locked) closet in the home to store your personal belongings. In addition to those things, second homes are tax deductions like first homes are.

Retirement Home – It only stands to reason that a home you've enjoyed spending time in over the years will also make an ideal retirement home. When it's time to sell the larger home and downsize, a vacation home can become your main home far easier than if you were starting from scratch in your search. You will already know the area and know what to expect and the move will seem like a natural next step.

Once you've identified the location that you and your family most associate with carefree living, contact a real estate agent for help in locating that perfect getaway home.