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Owning A Second Home PDF Print E-mail
Written by Administrator   

Like many people today, you might want to buy a getaway place not too far from home, a place where you can relax and recharge with family and friends. Depending on your circumstances, you might want a second home for work as well as play.

If a second home is something you've been considering, get the information you need. It’s important to make an informed decision.

  • What are the best second-home locations?
  • How can I determine my return on investment?
  • I’m interested in resort property.
  • Should I buy resort property now?
  • What's my next step?     

Typically, the best locations are no more than 2-3 hours away from major metropolitan areas by car or plane.

Many second-home locations are exclusive and discourage overdevelopment, such as Hilton Head, SC, and East Hampton, NY. Other locations, such as Florida, encourage second homes.

How can I determine my return on investment?

No one can predict the future. However, there are things you can consider to help ensure a second home works for you.

  • You'll enjoy it more if you use it frequently.
  • Be sure you can get to it quickly for spur-of-the-moment getaways.
  • Consider your interests.
  • Choose a place you'll enjoy playing in today and retiring in tomorrow.
  • Trust your knowledge about your local area.
  • You're likely to make a better investment when it's closer to home.

I’m interested in resort property.

Today, thanks to technology, a resort property can be more than just a vacation destination you visit once or twice a year. It can be a second home where you live and work part-time throughout the year. It's a home you'll spend even more time enjoying later in your retirement. And until then your resort property is a tangible symbol of your career achievement and financial success—and one you can share with those you care about.

The best resort areas are the ones that fit your lifestyle preferences. Begin your resort property search by determining where you most want to be and what you most enjoy doing. Do you prefer warm weather and water sports? Or does your idea of fun involve snow-covered slopes? Perhaps golf is your passion. Or camping. Maybe your ideal location has a thriving performing arts community.

Whatever your choices, The Prudential Resort Properties Network® has real estate professionals in just about every area throughout North America. This will enable you to consider specific communities and/or destination resort areas. And you'll be able to consider and compare properties in "parallel" markets if you choose.

Should I buy resort property now?

It's never too soon to pursue your dreams. Today the appreciation in many resort areas can be better than in major metropolitan areas. So this can be a perfect time to seriously consider investing in a resort property—one you can enjoy now and for many years to come.

What's my next step?

If you’ve been considering a second home, make the move that can turn the getaway spot of today into a second home for a lifetime. A knowledgeable Prudential Chaplin Williams Real Estate professional can help explore the best options for you.

 

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