On vacation, you can relax on tranquil beaches, enjoy a massage at renowned spas and leave the stresses of work at home. Now, imagine doing all of that in your home away from home rather than a hotel —something you can experience every year.
When you have a vacation home, you can rent it when away and make more money. Buy a property in an Airbnb hotspot to enjoy a steady flow of rental income, especially in the holiday seasons.
Another benefit of vacation homeownership is improved convenience. When you own a property in your go-to destination, you can safely leave your items after a visit and avoid high transportation costs.
Besides, it’s easier to plan a vacation within a short time and not worry about accommodation.
Once you retire, you will likely need a quiet place away from noisy cities. A vacation home purchase is a perfect way to enjoy your retirement in a desirable destination.
If you want to move permanently into a new home, sell your first property. Alternatively, use your current home to obtain financing for the second property, then rent it out to pay the loan.
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