Owning a vacation home is many people’s dream. Being able to own property in one of your favorite locations as a second home provides a much needed escape from the pressures of everyday life. It’s a special place designated to create memories with our families for years to come. In fact, vacation home sales soared to 1.13 million in 2014. The spike shows that more baby boomers are purchasing vacation homes with the idea of using them as their primary residence when they retire.
A few things to keep in mind should you decide to pursue the vacation home path: Check your credit score to make sure you qualify for a mortgage on a vacation home. Putting down a higher down payment will give you access to the best possible rate without paying mortgage insurance. Obviously you would have to ensure that there’s enough income to support both properties with maintenance, mortgage and tax payments.
Late August through the Fall are excellent times start your search for beach properties. The summer is winding down and homeowners of vacation homes are more likely to put their houses on the market. The Wyckoff Group is a member of the Monmouth Multiple Listing Service (as well as covering local Garden State and Middlesex MLS). We have listed and sold vacation homes to satisfied buyers all along the New Jersey coastline. Contact Doug Wyckoff – 908-400-2596 – firstname.lastname@example.org or Janice Wyckoff 908-917-1734 – email@example.com. We would be happy to help you find your dream vacation home!!