Why This Is a Great Year to Sell Your Vacation Home

<article class="post-2102 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-2102"><span class="entry-date">April 15, 2021</span><div class="entry-header center-block text-center"><h1 class="entry-title">Why This Is a Great Year to Sell Your Vacation Home</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=Why+This+Is+a+Great+Year+to+Sell+Your+Vacation+Home&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fwhy-this-is-a-great-year-to-sell-your-vacation-home%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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<p>As vaccines are administered and travel resumes, many of us are beginning to plan for those long-awaited vacations we missed out on over the past year. Some households are focusing their efforts on buying a vacation home rather than staying in a hotel, too. The <em>National Association of Home Builders</em> (NAHB) <a href="https://eyeonhousing.org/2021/03/second-homes-15-percent-of-new-home-sales/">reports</a>:<span id="more-44201"></span></p>
<blockquote>
<p><em>“<strong>Second homes</strong> (i.e., homes sold to buyers who are not going to occupy the home year-round, but <strong>use it as a vacation home</strong>, investment property, etc.) <strong>account for 15 percent of new single-family home sales.”</strong> </em></p>
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<p>It’s not surprising that there’s an increase in demand for vacation homes. The majority of Americans are realizing they prefer to be around small groups, as shown in a recent <a href="https://theharrispoll.com/wp-content/uploads/2021/03/Harris-Poll-COVID-1-year-FINAL-3.pdf">survey</a> from <em>The Harris Poll</em>:</p>
<blockquote>
<p><em>“Social distancing taught consumers new things about how they like to socialize; (75%) said, ‘during COVID social distancing I realized I preferred smaller social gatherings at home or at friends’ place.’”</em></p>
</blockquote>
<p>Not only are vacation homes seen as a potentially more pandemic-friendly way to travel and socialize, but they can also serve as an extended home-away-from-home. With more Americans being given the option to continue working remotely or retire earlier than expected, vacation homes can be used year-round. The NAHB <a href="https://eyeonhousing.org/2020/12/second-home-markets-show-construction-growth/">explains</a>:</p>
<blockquote>
<p><em>“Remote work arrangements have made it possible for some wealthier Americans to move to alternate locations that are not just small, suburban shifts from within their current metro area.  More fundamentally, second home demand may also be benefitting by an acceleration of retirement plans, as well as stock market gains.”</em></p>
</blockquote>
<h3><strong>Bottom Line</strong></h3>
<p>The demand for vacation homes has increased and will continue to rise as we head into summer. If you own a house in a destination area and have thought about selling, now is a great time to take advantage of today’s high buyer interest. Let’s connect to discuss your opportunities in our local market.</p>
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