6 Convincing Reasons Why You Should Buy a Vacation House
So you’ve purchased your home in the city, it can be a mansion, a townhouse, or a comfy condo in the city. At this point, you’re probably thinking of getting another home but one that’s not in the city. A vacation house is a luxury not everyone is blessed with, so if you are considering it, make sure it’s for the right reasons. Here are 6 reasons why you should buy a vacation house!
1 A Personal, Family Getaway
When the time for vacations and holidays come, your family doesn’t need to stay with overbooked hotels to escape. If your family enjoys staycations in nearby destinations often, a vacation house might be something you should consider. It will keep your family bonding moments more personal. Also, throwing family parties and gatherings are things you can host here.
2 Asset Growth
Just like when you purchased your first home, a vacation house can make your personal portfolio look nicer. Economically speaking, a huge benefit of buying a house is adding to the asset column of a Statement of Assets, Liabilities, and Net Worth (SALN). This is often a plus when securing loans, applying for visas, opening bank accounts, or engaging in business. Not only is this accumulation helpful reputation-wise, but it can actually represent a real piggy bank on rainy days.
3 It’s an Investment
Especially if you’re buying from a province that’s not yet so tourist-heavy, a buying a vacation home can be a sound investment. Properties rarely decrease in value, making a house (any, be it a vacation home or otherwise) a great investment.
4 An Extra Source of Income
If you’re open to it, you can have your family vacation home rented out when your family isn’t using it. This can be an extra source of income for your family. However, to avoid any unnecessary damages within your vacation home, be picky on who gets to rent out on who rents your vacation house.
5 It Can Be Your Retirement Home
6 A Family Heirloom
A vacation house is like the massive counterpart of a family jewel. It’s something you can leave with your children when you’re long gone. If you have a lot of kids, it can be a place where the family can come together for the holidays as a tradition (hence, point #1 of this article) even if they all have their own families.