Real Esate - Condos are becoming Single Family Vacation Homes
Real Estate -Condos are becoming Single Family Vacation Homes
By Nan Wood
Nationally condos have become almost as popular as single family homes for vacation properties. Many families consider their second home as a means of diversifying their portfolio. While the trend is picking up in Wisconsin, the appeal has always been toward cottages and cabins.
Buyers believe that owning homes in two entirely different markets increases the chance that their total equity will continue growing. They also have the advantage of more liquidity. If needed, they could sell one of the homes and live in the other.
The difference in the buying habits today is that buyers are looking for the appreciation in value of the property rather than looking to rent the property. Buyers are also not looking to repair or maintain their vacation property. The trend is leaning toward one of convenience. For these reasons, buyers are vying toward new construction.
Buyers don’t want to work. They are buying these properties to visit them and relax in a different environment. Currently Baby boomers are driving this trend. Since they have more disposable income than prior generations had, this trend could continue for some time.
Nan is an Accountant, Real Estate Professional and Business Writer. She has an information site for RealEstate
And an Auction site
RealEstateAuction
By Nan Wood
Nationally condos have become almost as popular as single family homes for vacation properties. Many families consider their second home as a means of diversifying their portfolio. While the trend is picking up in Wisconsin, the appeal has always been toward cottages and cabins.
Buyers believe that owning homes in two entirely different markets increases the chance that their total equity will continue growing. They also have the advantage of more liquidity. If needed, they could sell one of the homes and live in the other.
The difference in the buying habits today is that buyers are looking for the appreciation in value of the property rather than looking to rent the property. Buyers are also not looking to repair or maintain their vacation property. The trend is leaning toward one of convenience. For these reasons, buyers are vying toward new construction.
Buyers don’t want to work. They are buying these properties to visit them and relax in a different environment. Currently Baby boomers are driving this trend. Since they have more disposable income than prior generations had, this trend could continue for some time.
Nan is an Accountant, Real Estate Professional and Business Writer. She has an information site for RealEstate
And an Auction site
RealEstateAuction
posted by Nan at 12:09 PM
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