Vacation homes are selling at a much higher rate than they have in the past. The pandemic has allowed more people to work remotely, which has spurred people to be more flexible when choosing where they would like to live. This has led to an increased interest in vacation homes – which is good news if you’re looking to sell a vacation home. As with selling any piece of property, a successful sale depends on various nuances, one of which is the time of sale. Here, we talk about the best time to sell a vacation home.
When Should You Sell?
Where your home is located is a big factor. In general, it’s a good idea to list your property during “peak season” for the location in which it is situated. For instance, if your vacation home is close to the beach, a waterfront property, or based in a warmer part of the country, selling around summer is a good idea. That’s when more people will be in town to view, and when the property’s best features can be on display. Likewise, if your vacation home is located in a ski town, you’ll want to list it during the winter. In short, you want to market your property when it is at its most attractive!
Another thing to consider is the particular market in which your home is located. When it comes to the United States, May and June are the hottest months to sell, but they can differ from location to location. A real estate agent with expertise in a particular location would be best suited to advise you on this.
Another thing you should take into account when you think about listing your property is the real estate listing cycle. Selling a piece of property takes time: you’ll need to contact a real estate agent to list, prepare to list, and then list. You’ll want to take all of this into consideration and make sure that your property is ready to go when it should.
Are Vacation Homes a Good Investment?
While it varies on your own situation, the answer is yes. There are many things to consider when it comes to purchasing a home, especially if it is a second one. Costs of owning a vacation home include upkeep and repairs, property taxes, home insurance, security, property management and more. It’s a decision that you will have to consider carefully. If you do have the financial means to invest, though, now is a particularly great time to do so.
Our final piece of advice when it comes to property is that you want to think in the long term. Real estate is cyclical, and the market for homes will have its peaks and troughs. Depending on your situation, your vacation home can be used for more than just investment. If you possess the property during a low period in the market, it is still a home that you can use. This is especially rewarding if you have the ability to work remotely.
