Location. Location. Location. To that often chanted real estate maxim, vacation property buyers should add timing, timing, timing. There will never be a more favorable time to purchase a vacation home in Destin and South Walton, Florida. After the double whammy dealt by the housing/mortgage meltdown and the Gulf oil spill, property values along Florida’s scenic Gulf Coast are cheap; mortgage interest rates are unbelievably low; and property selection is at an all-time high. It’s the optimal buyer’s market. If you’ve been thinking about purchasing a vacation home in the Destin-South Walton area, it’s time to make your move. The current buyer’s market is already showing signs of turning around, and the incredible real estate bargains available today are not going to last much longer.
Real estate has always been an excellent long-term investment. Vacation homes located in popular resort areas like the Beaches of South Walton draw thousands of vacationers every year, typically generating enough rental income to offset taxes and other expenses and often show a profit. While the financial gain is a compelling reason to purchase a vacation home, most vacation home buyers see their purchase as an equal investment in their family’s future. People who own a Florida vacation home are more likely to take more vacations and spend more time relaxing and playing together as a family. There is much truth in the old adage, “Families that play together; stay together.” Psychologists say sharing leisure activities helps parents and children forge the close bonds they’ll need to successfully weather the turbulent teen years. Providing a comfortable location for multi-generational gatherings and family reunions is an additional benefit of owning a Gulf Coast vacation home.
With the economy recovering and the oil spill cleaned up, housing prices and mortgage interest rates can only go up. Don’t miss this opportunity; contact a Destin real estate agent today.
