Year after year, you return to the same vacation spot in Central Florida to stick your toes in the sand, splash in the ocean waves, and bask in the warm sunshine. Maybe you’ve been thinking about making your getaway spot a little more permanent by buying a vacation home here.
Here are five reasons to buy a vacation home instead of renting over and over.
It’s Flexible & Convenient
No need to plan your getaway months in advance to make sure you’re getting the right home at the right price. When you own, your home is always there, ready and waiting for when the time is right for your vacation.
Bonus: No need to pack heavy—just leave everything you need in your second home, from towels to toothbrushes.
You Can Stay for Longer
Thinking of an extended vacation this year? If work isn’t an issue, hey, why not? Well, if you’re renting, that could get a tad expensive, adding up all those weeks of paying extra rent. But if you own… no extra charge!
You Get More Tax Deductions
Just like owning a primary home, owning a second home comes with some nice tax benefits. For example, mortgage interest on your second home is deductible. And if you plan on renting the house out when you’re not in it, you may qualify for additional deductions on things like insurance premiums, utilities, and other expenses.
You Can Earn Extra Income by Renting
Forget paying someone else mortgage with your rent… it’s time to get renters to pay your mortgage. When you aren’t living in your second home, renting it out can help offset the cost of your second mortgage, as well as utility usage and maintenance costs.
Owning Real Estate Builds Value
The same way you expect to make money when you sell your primary home, you can expect to make money when you sell your second home. Of course, this does depend on the market and the overall condition of your home, but in general, real estate values appreciate over time, making home ownership a fairly low-risk investment.
Ready to Come Find Your Vacation Home in South Florida?
If you’re thinking of buying a vacation home in or even relocating permanently to South Florida, then it’s time to contact Edgewater Property Realty. We’re here to help you explore the area, discover its fantastic communities, and find the perfect home for your unique lifestyle.