Every year around this time, many homeowners begin the process of preparing their homes in case of extreme winter weather. Some others skip winter all together by escaping to their vacation homes in a warmer climate.
For those homeowners staying at their first residence,AccuWeatherwarns:
“The late-week cold shot should fade next week, but this is a warning shot for winter’s return late in the month and early February.”
Given this, it’s time to go and stock up on winter weather supplies! However, if you’re tired of shoveling snow and dealing with the cold weather, maybe it’s time to consider obtaining a vacation home!
“72% of vacation property owners and 71% of investment property owners believe now is a good time to buy.”
It’s time to take advantage of the equity in your home. As the latestEquity ReportfromATTOM Data Solutionsstated:
“Nearly 14.5 million U.S. properties (are) equity rich — where the combined estimated amount of loans secured by the property was 50 percent or less of the property’s estimated market value — up by more than 433,000 from a year ago to a new high as far back as data is available, Q4 2013.
The 14.5 million equity rich properties in Q3 2018 represented 25.7 percent of all properties with a mortgage.”
This means that over a quarter of Americans who have a mortgage would be able to use some of their home equity to make a significant down payment toward a vacation home, and many are doing just that! According to the same report by NAR:
“33% of vacation buyers purchased in a beach area, 21% purchased on a lakefront, and 15% purchased a vacation home in the country.”
Many homeowners who are close to retirement will use some of their equity to purchase vacation homes, which may eventually become their permanent homes post-retirement!
If you are a homeowner looking to take advantage of your home equity by investing in a vacation home, let’s get together to discuss your options!
Author:Lance Whipple PA Phone: 407-494-6030 Dated: January 9th 2019 Views: 146 About Lance: My name is Lance Whipple and I help first-time homebuyers, international investors, “active adults...
My name is Lance Whipple and I help first-time homebuyers, international investors, “active adults” and snowbirds buy and sell homes in Champions Gate, Davenport, Clermont, and Kissimmee Florida. It’s the lifestyle, weather, safety and security of the Disney area that attracted my family here after I retired from the United States Air Force as a Lieutenant Colonel. In 2011 I entered the real estate business in the Four Corners market at its economic bottom and since then I have increased my knowledge and skill by annually improving production and earning certifications and designations such as the Certified International Property Specialist (CIPS), At Home With Diversity (AHWD), Military Relocation Professional (MRP), New Home Co -Broker (NHCB) and Real Estate Digital Marketer (REDM). Over 60% of my transactions now come from referrals and I believe that speaks well for my approach and service. I truly see helping buyers and sellers with difficult decisions and likely the largest financial transaction of their lives as a worthy service. Helping my customers buy a home is a natural extension of my military service--directly related to protecting and assuring the American Dream. Read more here.
Lance Whipple - Realtor®
EXIT Realty Champions
Local Specialty: Four Corners (Davenport, Clermont & Kissimmee)
*Florida License #SL3248262 as Lance Whipple PA
Consider how many domestic animals in the United States end up alone,
"Lance Whipple has been our Realtor for the purchase of three vacation properties in the central Florida area. There are many reasons why we always choose to work only with Lance. First, he is very professional, respectful, trustworthy and incredibly knowledgeable in the local market. One thing we really appreciated is that he is very diligent moving things along with the urgency and at the pace needed. He was always on time, very responsive and was always available when needed, either at the moment or very shortly thereafter. He offered valuable guidance, kept us updated at all times, and helped us navigate through each step of the entire process. He also created a purchase contract that was beneficial to us and protected us as buyers, while being also reasonable and fair to all the parties involved.
Despite all this, I think what we appreciated most was his personal attention, and friendly and positive attitude. Although we knew he had many other clients, he always made us feel like we were the only ones. We highly recommend Lance."