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Why You’ll Want to Own a Vacation Home

If you’ve been debating whether or not a vacation home is right for you, Fripp Island Real Estate is here to help. Today, we’ll be talking about some of the many benefits you’ll enjoy when you own a vacation home! Just imagine being able to go on vacation whenever you want to!

Investment

A second vacation home is a great way to invest money for your family’s future. The real estate market may fluctuate from one month to the next, but overall it trends upward—which means that a vacation home is a great long term investment.

Along with the investment benefits that you’ll have after owning your home for a few years and then re-selling it, owning two homes will also afford you many tax breaks. If you rent the property for a few weeks out of the year, you can deduct your mortgage, interest and property taxes.

Rental Income

Speaking of renting the property, if you plan on only visiting a few times per year, why not rent the property out to other vacationers? It’ll be a great way for you to make extra income—you may even be able to recoup the amount you need to pay per month on your mortgage.

If dealing with rental applications and being a vacation landlord doesn’t sound like something you’d be interested in doing, you can always hire a local real estate agency to handle the rentals for you. They’ll post an ad for your home on their site, handle all of the nitty gritty business, and take a small cut of your rental income.

Convenience

Money Crashers says that the convenience of owning a second home can’t be underestimated. Rather than shelling out thousands of dollars for a vacation at a hotel, you’ll always have someplace to go that you know will be affordable, and knowing that your family will be comfortable is also a huge plus. Don’t worry about packing up the car and getting to your vacation destination, or tracking checked luggage. Instead, you can always equip your second home for everything you will need for your vacation!

Retirement

Owning a second home is a great way to plan for your retirement. If you purchase the home you plan to retire in before you reach retirement age, you can rest easy knowing that you’ll have a place to go that’s paid for. If you plan to retire in your vacation home, you may want to look for one-level homes, to make getting around easy as you get older. Many vacation destinations are built with older generations in mind, so you’ll be able to find the perfect home for retirement easily.

Family Tradition

For your kids, growing up with a vacation home will create memories that will last a lifetime, and encourage the building of traditions. They’ll make friends in your vacation town, learn about different cultures, and enjoy having their own space at the vacation home that they can make their own.

Vacation homes also make a great place to host family reunions, holidays, and special occasions. Extended family can come to stay and enjoy the home!

Fripp Island

If the idea of owning a vacation home sounds good to you, but if you’re not sure where you would like to settle, consider Fripp Island. Fripp Island is one of the most beautiful and luxurious counties in South Carolina; it’s a great place to buy a vacation home and even eventually retire.

Fripp Island is home to plenty of options when it comes to golfing, fishing, boating, and more vacation activities. It’s a quiet town, perfect for vacationing with your kids, and enjoying the beautiful beach scenery. Whether you’re looking for a large home with tons of acreage, or a condo in a community with amenities like a swimming pool and landscaping, Fripp Island has plenty of options for you.

Next Steps

When you’re ready to commit to buying a vacation home, the first thing you’ll need to do is identify where you want to buy. If you’ve decided you want to settle down on Fripp Island, next consider what kind of home you want: a single-family home, a one-story home with retirement in mind, or a condo. Zillow says it’s important to match your housing choices to your lifestyle, so think about what you’re looking for from your vacation home in the long term.

If you want to make the property mainly a rental property for now, you may want to consider homes that have guest houses where you can stay when you want to visit if you have a renter.

Go over the costs and the line items, and make sure you’ll be able to afford everything. Don’t forget to factor in property taxes.

When you know what you’re looking for, contact Fripp Island Real Estate at 843-575-2820 today, to get the search started! There are a wide variety of Fripp Island homes for sale so it’s easy to find the vacation or retirement home of your dreams!

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