Purchasing second-homes has emerged as the newest trend in real estate buying. Long are the days when people had to choose between the hustle of the city and the comfort of open space. The pandemic led the way in this trend, as many people desired the space to get outdoors under the restrictions of the large cities.
According to a Bloomberg study done in the final quarter of 2021, 13% of people surveyed said that their next home purchase will be a second-home. Some second-home buyers are also looking at their purchase as an investment opportunity, renting out the home when it’s not in-use.
Second-home buyers have stated that they feel as if they are on vacation, and involved in both communities. Some second-home buyers who were interviewed by Bloomberg said that they have found that their work-from-home experience has reduced stress and created a more productive schedule.
This trend has not only emerged in the United States, but around the world. Residents of large cities in France, Italy, the United Kingdom and many other countries have also chosen to have a vacation home with open space.
According to Travel and Leisure Magazine, the top locations for second homes included Franklin County, Florida, Sevier County, Tennessee and Trigg County, Kentucky.