What Are the Benefits of Owning a Vacation Home?
Are you dreaming of buying a vacation home in sunny Florida?
If so, you’ll be in good company. Over 14% of the country’s vacation homes (1.1 million units) are located in the Sunshine State.
Of course, vacation home ownership is a big decision to make. Should you stick with the same vacation home rental you’ve always had, or is it time to take the plunge and buy your own property?
Here are some compelling reasons to consider the latter.
1. Convenience & Comfort
Have you ever tried to book your favorite vacation rental, only to discover the dates weren’t available? Do you groan every time you have to pack those enormous suitcases for your mid-winter getaway?
When you own your own vacation house, you don’t have to worry about these inconveniences. It’s available to you 365 days a year and you don’t have to haul your belongings back and forth from your primary residence.
Another bonus is you can add all the same comforts you enjoy at your full-time home. Whether you want a Sleep Number bed or a rainfall showerhead, you have complete control over the furnishings and decorations.
2. Great Tax Breaks
Who doesn’t love a good tax deduction? Second homeowners enjoy a host of tax benefits that make the thought of buying a vacation home even more appealing.
As long as you use the property as a true vacation home (not a rental property), you can deduct property taxes and mortgage interests from your annual tax returns. There may also be other tax benefits available to you too, so it’s worth doing some research.
3. Potential Rental Income
Another way to save (or even earn) money from your second home is to rent it out for part of the year. If you only plan to use it for a few weeks or months, why not rent it out as a holiday rental for the rest of the year?
When your vacation home is in a desirable location like Madeira Beach, there’s sure to be demand year-round. This could turn into another source of passive income for you and your family.
4. Easy Access to Amenities
The great thing about vacation homes is that they’re located in areas people want to visit. You’ll have instant access to Mother Nature as well as terrific dining, shopping, and entertainment options.
Your second home can become a second “home base” where your friends and family gather for holidays, reunions, or other special occasions. Invite whoever you like to stay for as long as they like — it’s your property, so you can do what you like with it!
Ready to Buy Your Florida Vacation Home?
There’s nothing wrong with renting a vacation house, but there are plenty of reasons to consider buying a vacation home instead. The only thing left to do is decide where to drop your vacation roots.
If you love Florida’s Gulf Coast, we highly recommend the Madeira Beach area. The beaches are glorious and the sunsets are even better, and you’re just a short drive away from all that Tampa, St, Petersburg, and Clearwater Beach have to offer.
Click here to get in touch and find out about our available vacation homes to rent or buy.