The COVID pandemic has given us all extra reasons to want to escape somewhere new, more square footage, outdoor space, a new view. As a result, sales in traditional areas popular for vacation homes have seen a huge jump in sales activity. A recent Redfin report found that eight of the 10 U.S. counties that have heated up the most over the past year are home to popular vacation spots, including Lake Tahoe, Cape Cod, Palm Springs, the Jersey Shore, and Bend, OR.
So, what does that mean for you? If you’ve been on the fence about splurging on a vacation home you may want to consider taking the leap. Owning a second home in a traditional vacation area provides a lot of long-term flexibility. Let’s take a look at a few advantages.
The biggest perk of owning a vacation rental is you get to enjoy it too! Spend a long weekend there to celebrate a birthday or other special occasions or just to getaway. Perhaps you plan to spend even more time there which makes it even more important to select a location you love.
You can make extra income.
Renting out your home can earn you extra income. According to Priceonomics, , Airbnb hosts earn on average $900/month and there are plenty of other rental websites to expand your potential earnings. Those sites include VRBO, Booking.com, TripAdvisor and more.You have a cool place to visit
