According to the National Association REALTORS® (NAR), sales of investment homes increased 7 percent to nearly 1.1 million in 2015, the first time in four years. And while vacation home sales cooled off slightly in 2015, they remained at the second highest amount in nearly a decade, NAR reported.
“Steadily increasing home prices and strong rental demand appear to be giving more individual investors assurance that purchasing real estate will diversify their portfolios and generate additional income if they decide to rent out the home.” said Lawrence Yun, NAR’s chief economist. “Baby boomers at or near retirement continue to propel the demand for second homes….” Yun added.
If you have been considering buying an investment property or that vacation home you’ve been dreaming about, my relocation group is ready to help you make your move. To assist buyers, I have access to an unsurpassed network of real estate professionals. This allows me to help get my clients where they need to go—around and beyond our local marketplace. This network includes a team of professionals that specializes in providing expert service to clients who are purchasing outside of our local area. Because I personally coordinate this process, my buyers can rest assured that they will receive the service and results they have come to expect from Coldwell Banker.
While no one can predict the future, homes in popular destinations have historically been good, long-term investments while providing rental income along the way. An added bonus, there is always the possibility of retiring in your vacation or investment property someday.
There are lots of options for vacation or investment homes. Besides beach or mountain resorts, a rental house near a college campus may be a good choice, especially if you have college bound children. Investors may earn good yields on single-family rental houses in cities with many college-aged residents, according to RealtyTrac. High rents and still affordable purchase prices may make buying a college home an attractive option for investor parents.
The next time you or someone you know needs real estate service in or out of the area, remember that you have connections that can help take you there.