There’s nothing quite like vacationing in your own vacation home. Click here for compelling reasons why you should invest in your own vacation property.
If you haven’t already invested in your own vacation home, then now is the time to do so. There’s something about vacationing in your own vacation home that simply can’t be matched. A vacation house isn’t just a place where you can go during the weekends or summers.
A vacation property is a second home. It’s a place where the entire family can feel comfortable and create a lifetime of memories. Not sure if buying a vacation home is right for you?
Continue reading below for a few reasons to buy a vacation home that you’ll want to know about!
1. It’s Great for Mental Health
There are several benefits of taking a vacation. Improving mental health is one of the benefits you’ll receive from taking regular vacations. Vacations provide us with the opportunity to decompress and destress.
Planning vacations, however, isn’t always the easiest task. There’s a lot that goes into the vacation-planning process. Choosing a destination, researching the destination, booking a room, and finding fun activities to do while there are all things that take time and sometimes sway people into never going through with it.
When you have a vacation home, there’s no stress involved when it comes time to take your vacation. Even if you simply need to get away for the weekend or the night, you can do so without having to put any thought into it. Sometimes, all you need to refresh your mind and body is a night away from all the commotion of every-day life.
2. You Can Rent It Out When Not There
Vacation homes are not only a good investment for your mental health. They’re also a good investment for your pocket. Sure, balancing two mortgages at once might not seem ideal, but think about the long-term benefits.
Each mortgage payment you make lands you one step closer to having it paid off and when you’re not using the vacation house, you can consider renting it out. Many people enjoy renting out homes rather than booking rooms at hotels because it gives them more space to themselves.
The money you earn from collecting rent will help you pay off the mortgage and will give you a break from paying two mortgages at the time. Once the vacation home’s paid off, the money you receive from your renters will be straight profit or can go into an emergency account for when repairs or upgrades are needed on the home.
You can even consider buying a condominium as your vacation home, which might turn out to be a bigger profit for you. It’s best to do some research and find what works best for you. The La Jolla condominiums for sale are a great starting point!
3. It Makes for a Great Retirement Home
If you purchase a vacation home, then chances are it’s in an area that you enjoy spending time in. Maybe it’s on the beach, in the mountains, or on the lake. You most likely won’t purchase a vacation home in a location you dislike.
Have you thought about where you’d like to retire to? Your vacation home could be the perfect retirement home for you. It’s located in a place that you enjoy spending time in and is full of all your wonderful family memories.
A great thing about choosing your vacation home as your retirement home is that you already feel comfortable there and there’s no need to worry about home searching and buying. The house is already there, waiting for you to retire in it.
4. It Makes Vacationing Easy
Going on vacations can sometimes seem more like a chore than an actual relaxing getaway. This is especially true when children are involved. You’ll have to pack and prepare for not only yourself but your children as well.
Even a day at the beach or park can be a lot of work when you have to carry along all of your children’s necessities. With a vacation home, you can forget about all of the regular vacationing hardships. Because you travel to the same location each year, and you own the property, you can leave all your vacationing necessities there.
This might include swimsuits, water shoes, pool or lake toys and floats, summer clothes, extra deodorant, and other toiletries, and more. Everything you need will already be there at the house. The only thing you’ll have to worry about bringing is yourself, the children, and a few personal items such as daily medications or favorite blankets.
5. It’s the Perfect Place for Family Gatherings
Don’t only view your vacation home as a place for summer getaways. Your vacation home can be the perfect place for family gatherings or holidays as well. How many times has the family become stumped trying to find the perfect place for holiday gatherings and other types of family gatherings?
It’s not uncommon for many families to decide they don’t want a bunch of people in their homes. Hosting the entire extended family in your home is stressful and a lot of work. If you own a vacation home, then you can offer to host the gatherings there.
You won’t have to wipe down each expensive dining chair after someone gets up or hide all your expensive china. You can let everyone be free and have fun in the vacation house!
6. You’ll Get Even More Tax Breaks
If you fall into a modest income tax bracket, then you’ll be able to deduct the property tax and interest paid on your second home and turn it into a good amount of money in your pocket. It’s always a blessing to be able to add a few more tax breaks during tax season.
Do keep in mind, however, that you might not be able to rent out your home for more than 2 weeks out of the year to qualify for these tax breaks. Be sure to speak with your accountant in advance to learn more.
Are You Ready to Buy Your Own Vacation Home?
After reading through this guide, have you made up your mind about buying your own vacation home? Refer back to this guide and all these benefits when it comes time to make your final decision.
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Northern girl Laura is the epitome of a true entrepreneur. Laura’s spirit for adventure and passion for people blaze through House of Coco. She founded House of Coco in 2014 and has grown it in to an internationally recognised brand whilst having a lot of fun along the way. Travel is in her DNA and she is a true visionary and a global citizen.