A second home owner is more likely a higher educated baby boomer.
Higher educated baby boomers are the most likely candidates to own a second home according to a study that was conducted by Harvard University. On the report it stated that it was four times more likely that a higher educated individual would own a second home over a high school educated person.Get more info click site
Here are some of the benefits of having your own vacation home
1. Easily Arrange Mini Vacations
With your own vacation spot, you can quickly and easily arrange retreats without any prior planning, reservations or packing of clothes. If your vacation is set up correctly, you can go on holiday at little to no moment’s notice.
2. Potential Income
Many people, who have their own vacation home, usually have a property manager who handles the weekly and weekend rental. In many vacation spots, you may have a situation where its income outstrips the mortgage payments.
Although it’s possible for you to save a whole lot of money managing the property yourself. If you take the necessary steps, it’s possible for you to become very successful at it. With the right kind of attitude, it’s often as much fun as it is rewarding, providing you implement the appropriate system. However, if you do decide to hire a management company, then you should ask lots of question.
However, most of the money comes from the homes appreciation over time. There was a report from a real estate journal written some years ago that said a home purchased in Utah for $485,000 resold for $945,000, only two years after its initial purchase, which is a remarkable 79% return on investment.
3. Quality Tenancy
The overwhelming majority of those who are able to rent a vacation home are usually financially free or stable and, will respect your property and are more likely to leave after their allotted time has passed. This is a breath of fresh air, especially when you consider the tenants that damage properties and create eviction issues.
4. Traditions of the Family
A family may spend a Christmas, summer or thanksgiving at their vacation spot. The time that they’ll spend their together can only be categorised as priceless.
Whenever ever you arrive at your vacation home you should feel as though you’ve arrived at home. Make sure you adorn your holiday home with familiar items and use specific items that make you feel both settled and calm. This should make you feel relaxed, help you sleep and make visiting your vacation spot a whole lot of fun.