Why a Kansas or Missouri Vacation Home Is the Ultimate Summer Upgrade

As summer arrives, it's the perfect time to start thinking about your vacation plans. If you're eager to spend time away and have fun in the sun, you might want to consider whether owning a vacation home is right for you.

An Ameriprise Financial survey has revealed the reasons why people purchase second homes or vacation homes:

Chart on the primary uses for second homes

1. Vacation destination or a place to get away from the stresses of everyday life (81%) - A second home can be a special place for relaxation and a break from daily routines. It eliminates the worry of finding accommodation when you visit.

2. Better weather (49%) - Owning a home in a place with nicer weather can be a great escape, especially if your usual residence experiences cold or rainy weather. It allows you to enjoy sunny days and warm temperatures when the weather at home isn't as pleasant.

3. Rental income (41%) - Renting out the property when it's not in use can be a way to earn extra income.

4. Primary residence in the future (33%) - If you plan to move into the home full-time during retirement, owning it now allows you to enjoy vacations there and have a future getaway ready.

5. Having a venue for gatherings with family and friends (25%) - Owning a vacation home provides a special place for family trips, parties, and creating lasting memories.

Ways To Buy Your Vacation Home
You don't have to be wealthy to buy a vacation home. Bankrate offers two tips for making this dream more achievable for anyone interested:
1. Buy with loved ones or friends: If you're okay with sharing the vacation home, you can pool your resources and purchase it together to make it more affordable.
2. Put a savings plan in place: Consider adding a vacation home savings plan to your budget and contributing to it monthly. Regular saving will require patience and persistence, but your vacation spot will be worth it.

Finding Your Dream Spot with a Little Help from an Agent
If basking in the sun at your vacation home sounds appealing, it's best to start looking now. Everyone is trying to buy their slice of paradise during the summer, so starting early is recommended.

Your first step is to team up with a real estate agent. They are familiar with the area you want to be in and can provide insights on which homes you should consider. Additionally, they can advise you on everything you need to know about owning a second home and how it can benefit you. According to an article from Bankrate:

"Buying real estate in a new area—or even one you've vacationed in for many years—requires expert guidance. Working with an experienced local lender specializing in vacation home loans and a local real estate professional is a good idea. Local lenders and Realtors will understand the specific rules and requirements for the area you buy, and a local Realtor will know what properties are available."

Bottom Line
Let's chat about your own vacation home dreams! Call or text the Just Say Home KC Team at 816-656-2816.

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