Have you been thinking about owning a second home? Is now the time? Would it work while the kids are young? Or, should you wait until near retirement? There is no right or wrong answer.
My son is 26 and daughter is 22. So, as a mom of Millennials, I can look back and reflect on the choices my husband and I made during their growing up years. I’m pretty sure our kids would say we could have done many things differently, but one thing that we did do pretty well was spend a lot of time together in Florida. (these are photos are of my kids…they will be surprised to see these)
We were fortunate enough to own a condo in Florida for few years and spent vacations near St. Pete Beach. As it turned out, it is the simple things that made these times there so much fun. It was a bike ride to the ice cream store. It was mucking in the bay and finding starfish. It was going to the beach anytime we wanted. And there was something magical about those gulf sunsets.
Owning a second home while our kids were very young worked for us. The small condo was affordable and easy to maintain. However, there came a time when it became hard for us to take the time and get away. And market conditions were changing. We sold our condo right before the market took a dive in 2008. Now, the market is now better than ever and we sometimes regret that we sold. But, overall it was a good investment, we spent quality family time together, and made money when we sold. And, the memories are strong and wonderful.
If you are thinking of purchasing a second home…. there is much to consider. Where do you want to purchase? Are you looking for lake property, beach, or mountains? Do you have the cash? If you need to take out a loan, the rules are different on purchasing a second home. And do you have the resources to keep up two homes? How can you find a trustworthy real estate agent in a town where you don’t know anyone?
If you are thinking its time to purchase a second home….I can help you with almost any property in the world.
Dorsey Alston Realtors is a member of Leading Real Estate Companies of the World. This is the largest network of residential real estate firms, and network affiliates and are widely recognized as the premier providers of quality residential real estate and relocation services. Leading Real Estate Companies of the World also excels in the luxury market. Give me a call if you are looking for second home and we can start the conversation.