Vacation Homes Are Becoming A Reality For More Homeowners

Whether it's a lakefront cottage or a log cabin in the woods, a vacation home often seems to be a dream that only the wealthy can afford. But these days, you don't have to be a millionaire to own one.

A nationwide survey shows the median household income of second-home owners is $46,500. With today's continued low interest rates, the tax advantages a second home can bring, and a wide selection of areas experiencing solid home price appreciation, this is an excellent time to consider purchasing a second home as an investment ? and a great getaway place.

When searching for your second home, remember to investigate the area thoroughly. Ask a Realtor® and the local chamber of commerce to provide information packets, maps and brochures. Take time to visit the area several times ? a few months prior to and during its peak season(s). Are the crowds unbearable? Is the weather unpredictable?

Speak with a local Realtor regarding current and past home prices. Knowing the area's sales history will help determine the market value of the homes and effectively predict their appreciation potential.

Once you've settled on a community, work with a Realtor and lending institution to determine how much home you can afford. Drive around the town and its neighborhoods. Experience the day-to-day activity around potential properties. Keep in mind you may decide to retire to the area one day. Will the property serve two purposes ? that of vacation and retirement home? More and more Americans are purchasing vacation properties in areas where they plan to eventually retire.

Remember, vacation homes remain a good investment and provide substantial deductions on yearly tax forms if they meet certain criteria. As the laws are ever-changing, complex and detailed, consult your real estate agent, who will usually work with a tax attorney or certified accountant, to calculate the tax benefits of owning a second home.

Relaxing in your own home in that dream vacation spot is not out of your reach. More and more Americans are realizing that owning a vacation home is do-able ? not to mention a good investment and a peaceful retreat for years to come.

About The Author

W. Troy Swezey is the author of "VACATION HOMES ARE BECOMING A REALITY FOR MORE HOMEOWNERS." As a Realtor at Century 21 Paul & Associates, he has helped many individuals with their real estate needs. Visit his web site to download his free e-book, "REAL ESTATE SECRETS EXPOSED." http://www.TroyIsMyRealtor.com or mail to: [email protected]

In The News:


Real Estate Values Climb Compared to February Last Year
MainePublic.org
February saw a hike in real estate values in Maine compared to the year before, but a decline in the number of homes sold. The Maine Association of Realtors says the statewide median was up 12.5 percent to $180,000 during the month of February. However ...

and more »

Entrepreneur

3 Tech Trends Helping to Bring New Investors to Real Estate
Entrepreneur
Real estate has been a volatile market over the last decade, leaving many people wary of investing in residential and commercial properties. As a result, would-be investors are looking at the market differently and using new strategies to achieve success.

and more »

CNBC

Hot US real estate a potential red flag: Fed's Rosengren
CNBC
The run-up in U.S. real estate prices could potentially amplify any future economic downturn, a Federal Reserve official said on Tuesday, urging regulators globally to consider tools beyond interest rates that could help cool the sector. A sharp ...

and more »

WTAJ

Central PA Pros: Coldwell Banker Town & Country Real Estate 3.22.17
WTAJ
Bob Pennington from Coldwell Banker Town & Country Real Estate discusses today's property tour, and what he would advise buyers and sellers to do in the real estate market now that spring has arrived. Coldwell Banker Town & Country Real Estate opened ...

and more »

CNBC

Real estate mogul: Increase your home's value by investing in this overlooked space
CNBC
According to the real estate mogul, there's a surprisingly important feature you'll want to pay close attention to when flipping a property: the closet. Sidney Torres of "The Deed". Maarten de Boer/NBC | Getty Images. Sidney Torres of "The Deed". "A ...


Forbes

In New York, Luxury Real Estate's Pied Piper
Forbes
When New York found itself in the throes of the financial crisis in 2008, and home sales began to tumble, most real estate brokers scrambled to help clients unload properties languishing on the market. But not Robert Dankner. “The smart money knew ...


Aspen Public Radio

2016 Real estate market took a hit
Aspen Public Radio
A listing for a $27 million, 11,000 sq/ft home in Aspen. Credit Trulia / Ed Zasacky/Aspen Snowmass Sotheby's International Realty,. Real estate sales fell 30 percent in Aspen and Snowmass in 2016, but overall was still a $1.45 billion industry.


Washington Business Journal

Washington Real Estate Investment Trust to acquire part of the Watergate complex
Washington Business Journal
The District-based real estate investment trust plans to close early next month on its acquisition of Watergate 600, a 309,387- square-foot building at 600 New Hampshire Ave. NW owned through an affiliate by publishers Katherine and David Bradley.

and more »

FOX 21 Online

New Real Estate Coming To The Water
FOX 21 Online
New lake front property will soon be available for an experience like none other in Duluth. The Duluth City Council voted unanimously to allow Hoff & Giuliani to begin development of lot D, prime real estate next to Pier B Resort. Pier B being the last ...

and more »

KHTS Radio

Santa Clarita Inventory Real Estate Report Continues To Show Low Inventory
KHTS Radio
Santa Clarita realtors have seen a decrease in the already limited listings for condominiums and homes while sales have continued to rise. Don't miss a thing. Get breaking KHTS Santa Clarita News Alerts delivered right to your inbox. Due to the lowest ...

and more »
Google News

What Makes Fractional Shares Different from Owning Other Kinds of Vacation Properties?

Fractional shares ("fractionals") are sometimes confused with other vacation property... Read More

What Should I Do If My Home Isnt Selling?

Suppose you've been trying to sell your home for months.... Read More

Grab Your Dream UK Home On The Cheap - Property Auctions

Did you know that every year thousands of UK properties... Read More

Real Estate News

Happy New Year, Make it a better world. "Pay it... Read More

Buying a Home ? Dealing With Lender Letters

Most people who set out to buy a home, be... Read More

Apartment Loan 101

So you're interested in going into business as a property... Read More

Conventional Financing For Wholesale Deals

This info is very important for both new and experienced... Read More

The Real Estate Market In Spain: Making Profits Out Of Sand

The Real estate market in Spain keeps gaining momentum and... Read More

Selling A Home ? What Attachments Stay or Go?

The home selling and buying process can be confusing. This... Read More

Real Estate Investing: Sales and Negotiation Skills are Critical

Do you want to build wealth through real estate? You... Read More

Boston Real Estate ? Choosing the Right Boston Real Estate Agent

As a successful Boston real estate agent, it always puzzled... Read More

Real Estate Investing and Home Ownership

If you already own your home, you will probably make... Read More

Greed Can Cost You Your Shirt!

The proper action when things are going well is to... Read More

Renting a House

Renting a house or a room in your home is... Read More

Boston Real Estate ? You Still Have Considerable Control Over the Sale of Your Boston Home

Boston real estate is a hot topic. Daily newspaper articles... Read More

Real Estate Investing - Basis Explained

Our complex IRS code requires that your, as a real... Read More

Negotiating A Short Sale ? The High Road to Huge Foreclosure Profits

Buying foreclosures can be extremely profitable for real estate investors.... Read More

If You are Hiring a Neighborhood Specialist to Sell Your Home, there are Some Things You Absolutely

My husband and I were eating breakfast at the Good... Read More

Dramatic Profits From Preconstruction Real Estate Investing

The preconstruction process is an innovative real estate investment opportunity... Read More

Real Estate Development Marketing

A Specialist Article For Those Interested In Real Estate Development... Read More

Real Estate Investing - The Motivated Seller

How the heck do you find a "motivated seller?"The motivated... Read More

Maui Realtors: What You Need To Know

Maui is a great place for families of any size.... Read More

Joint Ventures In Real Estate Development; So How Do They Work?

There are many reasons why you would consider joining with... Read More

Lease Options or Rent to Own?

Finding a rent-to-own house is one of the many ways... Read More

Staging Homes for Top-Dollar Sales

Wouldn't it be nice to have Roger Hazard's design team... Read More