Why Buying a Vacation Home Beats Renting One This Summer
Aloha, Lance Owens (RS) with LUVA Real Estate, along with our partners at KCM, bringing you the latest in real estate news and events.
For many of us, visiting the same vacation spot every year has become a summer tradition that is fun, relaxing, and restful. If this sounds like you, now is the time to consider your plans and determine whether buying a vacation home this year makes more sense than renting one again. According to Forbes, "if the idea of vacationing at the same place every year makes you feel instantly relaxed, buying a vacation home might be a wise move."
To help you decide if making a move like this is right for you, let's explore why you may want to consider purchasing a vacation home today.
Benefits of Owning Your Vacation Home:
- No worries about finding a place to stay: It can be challenging to find a rental in your desired location and timeframe. Some popular summer vacation destinations are often booked up in advance. By owning your vacation home, you eliminate the inconvenience of finding accommodations. Bankrate explains, "...a second home can offer a place to have quality time with your family and ensures that you always have a vacation destination."
- It's an investment: Home values typically appreciate over time, and the same holds true for your vacation home, especially in areas with growing market demand. This can help increase your net worth over the long term.
- Tax benefits: Owning a vacation home may provide tax deductions based on its location. However, it's important to consult with a tax professional before making a purchase, as tax regulations can vary by location.
- Retirement potential: If you love the location of your vacation home, it could potentially become your retirement destination. You might consider selling your primary residence and moving to your vacation home later in life.
How a Pro Can Help You Find Your Perfect Match:
As you prepare for summer vacation, consider the option of visiting your second home instead of renting another unit or staying in a hotel. If this appeals to you, a local real estate agent is your best resource. They have the knowledge and resources to help you understand the area and find vacation homes within your budget. Additionally, these agents can explain the benefits of owning a second home.
Bottom Line:
If any of these reasons for owning a vacation home resonate with you, let's connect. There is still time to enjoy the summer in your vacation home.
Posted by
Lance Owens RB-24133
808.936.8383
LUVA Real Estate | 75-240 Nani Kailua #8, Kailua Kona, HI 96740
REALTOR® / BROKER-IN-CHARGE • Residential homes, Condos, Land, Agricultural/ Equestrian/Large Acreage
Hawaii Association of REALTORS® (HAR)
2025 President 2023/24 State RPAC Chair
2023 HARLA Graduate
National Association of REALTORS® (NAR)
2023-25 Director 2024-25 RPAC Participation Council Safety Advisory Committee Region 13 Leadership
NAR Designations
AWHD (At Home With Diversity) | PSA ( Pricing Strategy Advisor)
West Hawaii Association of REALTORS® (WHAR)
2023 REALTOR® of the Year 2018/2022 President
