According to the National Association of REALTORS® ( NAR ), last year there were a record 2. 82 million vacation - home purchases, up 16 percent from the year before. It ' s not just the wealthy who are buying vacation homes. The typical buyer earns $71, 000, and buys a home worth slightly less than $200, 000.
The NAR found that more than one in 10 home purchases last year were by vacation - home buyers who planned to use the property themselves, a 20 percent rise over the previous year. Vacation - home buyers are mixing business and pleasure, renting out their property part of the time.
The real - estate boom that has charged the vacation - home market, due in part to relatively low interest rates and the promise of big resale value, has seen investors and regular vacationers continue to purchase second, third and fourth homes. In most cases the attractiveness of an area is defined by such things as a beautiful setting, proximity to growing urban centers, a major city, and / or big airport. Also important are recreational opportunities, i. e. ski lifts, beaches or mountains, cultural opportunities, decent weather.
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