Many home owners are considering selling their vacation home with summer coming to an end. But is that the right decision to make? Based on recent data, it’s something you may want to consider.
According to research from the National Association of Realtors (NAR), vacation home sales are up 57.2% year-over-year for January-April 2021. That’s not the only reason you may want to consider putting your home on the market. Here are a few more great reasons why you should consider selling your vacation home this year.
Demand for vacation homes is still high
With many still working remotely, data shows that there could be more interest in your vacation home than you think:
“In 2020, across all nine divisions, the fraction of the workforce that work from home is typically higher in the vacation home counties than in the non-vacation home counties… The opportunity to work from home could further raise the demand for vacation homes in future years.
Additionally, we’ll likely continue to see an increase in remote workers over the next five years. With many businesses and employers still extending an option to work remotely to workers, vacation housing is a hot commodity.
Selling could allow you to upgrade your scenery.
When buyer demand and competition is strong, buyers will go to great lengths to make their offer on your vacation home as appealing as possible. This can mean all-cash offers and more. By selling now, you can benefit from the increased competition and pick the offer with the best possible terms for you. That incredible offer could allow you the budget to purchase the home of your dreams.
It’s time to think about taking advantage of today’s demand for vacation homes, but you don’t have to do it alone. Let’s connect today if you’re ready to put your second home on the market.