There’s no doubt that you’ve enjoyed your vacation home the past couple months. But as the season winds down, it’s natural to ask yourself what you should do with your summer retreat. Based on research from the National Association of REALTORS®, vacation home sales are up 57.2% year-over-year for January-April 2021 — which means you should at least consider selling. Read on for two reasons why.
Remote work continues to drive demand for second homes.
As the NAR’s report explains, “…the fraction of the workforce that works from home is typically higher in the vacation home counties than in the non-vacation home counties.” Also, recent data shows we will likely see a steady increase in the rate of remote work over the next few years, so vacation homes will remain a popular choice among buyers who have the flexibility to work from any residence.
Selling now could finance a home upgrade.
High demand leads to more buyer competition, which leads to bidding wars, multiple offer scenarios, and all-cash offers. If you sell now, you can maximize the sale price for your vacation home, and in turn, gain the opportunity to purchase the primary residence of your dreams — or even upgrade to a larger second residence.
If you’re ready to learn more about how you can get top dollar by selling your vacation home, contact your local Surterre agent today at SurterreProperties.com.
Source: Keeping Current Matters
