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What To Do with Your Vacation Home as Summer Ends

What To Do with Your Vacation Home as Summer Ends | Simplifying The Market

As summer comes to a close, is it time to think about selling your vacation home? Based on recent data and expert opinions, it’s something you may want to consider. According to research from the National Association of Realtors (NAR), vacation home sales are up 57.2% year-over-year for January-April 2021.

If you’ve taken your last vacation this summer, here are reasons you should consider selling your vacation home this year.

1. Remote work continues to drive demand for vacation homes.

As the report from NAR says, based on continuously evolving work needs, there could be more interest in your second home than you think:

“In 2020, across all nine divisions, the fraction of the workforce that work from home is typically higher in the vacation home counties than in the non-vacation home counties… The opportunity to work from home could further raise the demand for vacation homes in future years.

Recent data shows we’ll likely see a sustained increase in the rate of remote work over the next five years. That means your vacation home could be highly sought after by certain buyers. Lawrence Yun, Chief Economist at NAR, puts it best, saying:

Vacation homes are a hot commodity at the moment . . . . With many businesses and employers still extending an option to work remotely to workers, vacation housing and second homes will remain a popular choice among buyers.”

2. Selling could allow you to upgrade your vacation spot – or even your day-to-day scenery.

When demand is high, so is buyer competition. When competition is strong, buyers will do everything they can to make their offer on your vacation home as appealing as possible. This can include things like all-cash offers and more. If you sell now, you’ll be able to benefit from high buyer competition and pick the offer with the best possible terms for you. That offer could give you the opportunity to purchase the primary residence of your dreams.

Or, if you find that you’ll continue working from home, you could consider taking up more permanent residence in your vacation home and selling your primary residence instead. While this isn’t a choice everyone can consider, it could be a great option.

No matter what the situation, you don’t have to make the decision on your own. Your trusted real estate advisor can help you determine your best option when you’re ready to sell.

Bottom Line

Buyers remain interested in vacation homes this year for a number of reasons. Now that summer is winding down, it’s time to think about taking advantage of today’s demand for vacation homes. Let’s connect today if you’re ready to give your second home its day in the sun.

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Buying A Luxury Home: Amenities That Are Right For You

Cicero‘s early Roman proverb, “A man’s home is his castle” is still applicable today. Why not make your home the castle you have always dreamed of? When you are looking for that perfect castle, remember this will be your home. Choose what is perfect for you.

More is less. You should feel breathless upon entering your home. Search out those unique details and hidden touches. Those are what will make you stand apart from others. Plan for family and friends enjoying your home. Guest rooms and outdoor spaces will make your look glorious. As the kitchen and living areas are at the center of your world, make sure they are perfect for you and your family.

Consider the property. You want to feel the privacy and security of your own space. Make sure there is ample space to live your dreams. Walk around in the space to smell, breathe, envision the energy you will expend there. Look at the views you will enjoy. Check out the neighborhood.

Take into account your lifestyle. You want to live close enough to what you love, yet far enough to have your own haven. Consider all who will be living in your home. Acknowledge the needs of each one to have harmony and beauty within your luxury.

Think about how the technology will meet your needs. Do you desire entertainment, communication, and high security? Or would you be more content with a rustic, unplugged lifestyle? Have space to work hard and be able to unwind and play just as hard.

Contact Sunbelt Realty to help you find that perfect castle to make your home.