Now is a Great Time to Buy Second Home or Vacation Home in Hampton Roads
Want to buy a second home? Purchasing a vacation home in Hampton Roads is a way to enjoy life, earn income and enhance investment portfolios. While many folks can't take the majority of a year to spend vacationing in a beach house, owning one affords them the option of visiting whenever time presents itself- no reservations needed. A nice bonus about vacation properties is that owners can use them as short-term rentals to offset costs and eventually turn a profit. If these homes are bought at good prices, managed well and located in prime areas, they can surely be considered assets to even the most established investors.
Why is now the best time to buy a second home? The reasons are plenty! Just as now is possibly the best time ever to buy a primary residence, it is also a perfect time to purchase a vacation home in Hampton Roads. Last week marked the sixth straight week in a row that mortgage rates have fallen- talk about historic lows! Currently, 30-year mortgage rates stand at 3.67 percent while 15-year rates are at 2.94 percent. Homebuyers haven't had rates this good since the 1950s. Low prices are another thing for buyers to keep in mind. While the housing market is recovering, at this point buyers still hold all the cards. Our agents can negotiate for the most concessions and closing costs from sellers to sweeten the pot even further. And one of the most important reasons to buy a vacation home is quality of life. Buy a second home here on the beach, bay, river or Intracoastal Waterway and make the most of time off with loved ones in tow. A vacation home in Hampton Roads is the ideal all-season getaway.