Everyone would like to have a vacation home, but the question is, "When should I buy a vacation home?"
Now is good.
Okay, you saw that coming, but it's true.
The market has changed over the last few months.
The seller's market has weakened. Leading up to the summer of 2018, sellers had most of the control. Inventories were very low and most houses saw several offers over asking price.
Today, the inventory of houses has increased, stabilizing prices and making it easier to make a deal on a home.
This is even truer for vacation homes. Many Americans have gotten nervous because of the dramatic retraction of Wall Street. This has caused many of them to simply stop shopping for "unnecessary" investments, like vacation homes.
Mortgage rates are still very low. While the slow increase in rates might feel like it's made them very high, the truth is that we're still well within rates that are historically low. If you need to take out a mortgage on a vacation home, now is a great time.
All of these factors combine make now a great time to buy a vacation home. Combine those with the ease of use of Air BnB and other rental sites, you can make money from your vacation rental no matter where it is in the world.
Start shopping for the perfect vacation home now. This is the time to start building equity and give yourself someplace awesome to vacation.