While exclusive communities like the Hamptons or Malibu will always be attractive locations for affluent vacation home buyers, several new trends are emerging in the expanding second home market. In a July 10, 2013 article published on foxbusiness.com, real estate experts discuss the growing confidence of home buyers and sellers – and the increasing number of Americans seeking second homes in some offbeat locations.
In the article, Michael Mendillo, president of FirstService Residential’s Mid-Atlantic region, tells readers that second homes are not always located in high-end markets. For example, buyers in the lifestyle community sector are increasingly purchasing second houses that will eventually become their retirement homes.
“It’s either people buying a second home where they are sensing their child will go to college nearby, or they are retiring and their second home will become their full-time home as well,” he says.
One of the communities he mentions is Sun City Hilton Head, in Bluffton, SC, managed by FirstService Residential. The article features an idyllic photo of the amenity-filled 55+ community, which is located just a few miles from highly desirable Hilton Head.
To read more, visit http://www.foxbusiness.com/personal-finance/2013/07/10/offbeat-vacation-home-investments