Omaha Real Estate

Buying A Vacation Property? Now Is A Good Time!

Buying A Vacation Property? Now Is A Good Time! | MyKCM

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, AccuWeather warns:

“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!

According to the Investment & Vacation Home Buyers 2018 Report by NAR:

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 latest Equity Report from ATTOM Data Solutions stated:

“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!

Bottom Line

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!

Buying A Vacation Property? Now Is A Good Time!
share
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… more
Belief in Homeownership as an Investment is Far from Dead
share
Following last year’s real estate market was like riding a rollercoaster. The market started off strong in 2018 and then softened before finishing with a mild flurry. However, one thing that did not waiver was America’s belief that owning a home… more
Excited About Buying A Home This Year? Here’s What to Watch
share
As we kick off the new year, many families have made resolutions to enter the housing market in 2019. Whether you are thinking of finally ditching your landlord and buying your first home or selling your starter house to move into your forever… more
NEW LISTING! Omaha Home for Sale in Regency
share
RECEIVE $7, 000 TO $17, 000 AT CLOSING WHEN BUYING A HOME. CALL 402-676-6700 NOW BEFORE THIS PROGRAM ENDS! Thoroughly modern and spacious home located in the prestigious Regency neighborhood. The big and bright kitchen highlights the exotic granite… more
24 Hours that Suddenly Improved the Market
share
This year started strong for real estate, but then the market began to soften. Home inventory in the starter and move-up categories dwindled to almost nothing, mortgage rates were projected to rise, and home sales had decreased for several months… more
How to Save Thousands of Dollars in Interest on Your Mortgage
share
One of the most common loans you can get to buy a home is a 30-year fixed rate mortgage. If the thought of paying for your home over the course of 30-years seems daunting, here are some easy ways to shorten that term which will actually end up… more
Homeownership Remains a Huge Part of the American Dream
share
As we head into 2019, many news outlets and housing experts warn that the housing market may slow down. Over the last six years, the inventory of Omaha homes for sale has been near historic lows, which has been the force behind increasing home… more
Don’t Get Caught in the Rental Trap in 2019
share
Every year around this time, we take time to reflect and plan for next year. If you are renting your current home but have dreams of homeownership, your plan for the new year may include buying, and you wouldn’t be alone! According to the 2018… more
What If I Wait A Year to Buy a Home?
share
National home prices have increased by 5. 4% since this time last year. Over that same time period, interest rates have remained near historic lows which has allowed many buyers to enter the market and lock in low rates. As a seller, you will… more
NEW LISTING! Raised Ranch for Sale in Sun Valley
share
SPECIAL FINANCING. PAY NO LENDER FEES. SAVE $4, 000 TO $7, 000! CALL 402-676-6700. A truly magnificent home. Step inside and see the beautiful mahogany kitchen cabinets with leaded glass and with roll out drawers, and a pantry. Awesome hardwood… more