Thinking of buying a vacation home on Lake Nacimiento this year? You’re not alone! Across the nation, vacation homes are being swept up by confident buyers and it’s a great reflection on our current housing market!
NAR Chief Economist Lawrence Yun said favorable conditions are driving second-home sales. “We had a strong stock market recovery, which helps more people in the prime ages for buying vacation homes,’ noted Yun. ‘Attractively priced recreational property is also a big draw.”
In fact, nearly half of those buying a vacation home last year made all-cash purchases as did those buying investment properties. Distressed properties were among 35% of the vacation homes purchased last year, which is a win for the buyer as well as for our economy! While the stream of distressed properties coming on the market has slowed, those that are available are ideally priced and great for those wanting to purchase a second home.
Now, you may be thinking that buying a vacation home is still years down the road, but the Vacation Home Buyers Survey noted that the average age of last years’ vacation home buyers was 47 years old. You don’t have to have a long lifes’ savings to invests in a vacation home!
If you’ve been considering buying a vacation home in Oak Shores or Heritage Ranch, now is a great time to do so! However, it’s also a decision that should be weighed carefully. Here are a few pertinent questions you’ll want to think through before taking the next step:
. How often will you visit and how much time will you spend there?
. Is it worth the money?
. What will the price appreciation be, realistically?
. How much will you have to pay every year for landscaping, association dues, garbage collection and taxes?
These questions can help determine which Lake Nacimiento home is right for you!
Of course I would be happy to talk with you and help answer any questions you may have! As a Lake Nacimiento Real Estate agent, I’ve worked with buyers and sellers in helping them navigate the Lake Nacimientio Real Estate market. While it can seem overwhelming to jump into the vacation home buying process; I can guide you each step of the way and ensure all of your questions get answered!
Feel free to contact me today to get started!
Grace Borzini
Your Local Lake Nacimiento Real Estate Expert
Oak Shores Realty
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Oak Shores Realty specializes in Oak Shores at Lake Nacimiento properties. Please contact us today to get more information on Lake Nacimiento lake homes. Oak Shores Realty can also provide you an insiders “Lake Nacimiento Buying Guide” with great information including maps and market information.
Please let us know how we can help!