Preload Spinner

When is the Right Time to Buy a Second Home?


When is the Right Time to Buy a Second Home?


One of the questions that I’ve been answering more and more recently is Betsy, when is the right time to buy a secondary home? And the truth is that I answer that question the same way I answer it if you were to ask me when is the right time to buy your primary home. In real estate, the game is to buy then wait. So the answer is as soon as you’re able to.

Waiting to buy can end up costing you money, too often we see people try to time their entrance to the market only to see home prices go up in the meantime. So buy now and then wait and decide when the right time for you to sell is based on what you need that particular investment. Because let’s be honest, that’s what all real estate is, it’s a form of investment, when that investment has performed the way that you needed to.

That’s so much easier, you’re not looking for a crystal ball to be like, oh well if I wait until next month it will go down when it’s the time to sell. We can look at the numbers and decide that they work for you in the secondary home. It’s even easier because you can rent it out in the meantime, whether that’s long term or short term to cover some of those carrying costs. So you’re able to ride the appreciation and then when it is time to sell, you don’t have to worry about finding another home to live in because when it’s your primary home and you want to sell because the market caught, you might end up homeless. But if it’s your secondary home that’s fine. You still have somewhere to sleep after the day that we close on that property and you take your check home with you, you still have a bed to go back to.

So we’re able to have that flexibility for you to sell when the time is right by your secondary home as soon as possible and give me a call in the meantime. I’d be happy to help you decide what type of property is right for you because that’s the other part of the equation. Do you want a secondary home? That’s a condo that you can rent out more aggressively or do you want a secondary home that like Yeah, it’s an investment, but you’re not really going to rent it, but you’re going to have lots of investment and family memories. So don’t wait and I hope I’ve convinced you not to wait. Subscribe to my YouTube channel so you can learn more in the meantime and can be prepared to buy when the time is right for you.