Owning a Jersey Shore Vacation Property is a dream for many people. However, circumstances can change, and what was once a dream can turn into a burden. If you own a vacation house and are considering selling it, this could be the year to do so!
Here are four reasons to sell your vacation house this year.
The real estate market is HOT!!!
The Jersey Shore market is currently experiencing a hot streak. Current interest rates and a shortage of available homes have led to a surge in demand for real estate. As a result, home prices have skyrocketed in many areas along the shore. If you sell your vacation house now, you potentially get a higher price for it than you would have a year ago.
Maintenance costs can be HIGH!
Owning a vacation property comes with maintenance costs. Depending on the size and condition of the property, these costs can add up quickly. If you’re not using the vacation house as often as you used to, it may not be worth the ongoing maintenance costs. Selling the house could relieve you of this financial burden, while cashing in at the right time.
Your vacation preferences have changed!
Your vacation preferences may have changed over the years. Perhaps you used to love visiting your vacation house, but now you prefer to travel to different destinations each summer. If you’re not using the vacation house as much as you used to, it may not make sense to keep it, with prices at an all-time high.
You need the money!
If you’re facing financial difficulties, selling your vacation house could be a way to get some much-needed cash. You could use the money to pay off debt, invest in a business or education, or make home improvements to your primary residence. Selling your vacation house could provide the financial boost you need.
In conclusion, selling your vacation house this year could be a smart financial decision. The real estate market is hot, maintenance costs can be high, your travel preferences may have changed, you may need the money, and the pandemic has changed everything. Consider these factors when making your decision, and don’t hesitate to consult with a real estate professional to help you navigate the process.
Contact Ian Lazarus 609-457-0258, Broker/Owner of Shore Points Realty for all of your Jersey Shore Real Estate needs.