Which Home Is Right For Me- Move-Up Home or Second Home?

Which Home Is Right For Me- Move-Up Home or Second Home? If you’re feeling cramped in your current space, you’ve probably considered a move. But what type of home would suit you best: a move-up home or a second home? Let’s explore each option to help you determine which one is right for you. 

A move-up home is a great choice if you need more space, a better home location, or want features their current home doesn’t offer: a pool, a bigger yard, or a dedicated home office. A move-up home can greatly improve your everyday life. And the timing for buying a home couldn’t be better, with super low mortgage rates, at their lowest level in history; you can now afford to buy a much bigger and better home without increasing your monthly mortgage payment.

A second home or vacation home can be a great option for those near retirement.  Trend we observe today- home sales are surging in many resort and vacation destinations, such as Hollywood Florida, as many home buyers search to escape the crowds and congestion. Hence, purchasing vacation homes that can be used throughout the year is a great option. By purchasing your retirement home now, they can lock in a low interest rate, start paying down the mortgage, and begin enjoying the perks of retirement living while still fit active and working. Plus, it’s easier to qualify for a mortgage while being employed. Vacation homes could generate additional income by renting it out on Airbnb or Vrbo when not using it.

Why choose a move-up home? Why choose a second home/ vacation home? If this is where you are today asking yourself these questions and pondering which one is the best option for you, you should also watch this video: Which Home Is Right For Me? 

Or, if your heart is already set on buying a vacation home, or you are considering a move to Florida, you might find that Hollywood may offer you the best of all- a gentle climate, a big city living with a suburban vacation vibe, a city so well located that you could easily be anywhere you need to be within the city, the country and the world.

I hope, you find this resource helpful and if you or anyone else you know that might be looking to move to a bigger home or, are contemplating buying a second home, we can help. Give us a call/ text or email us: Contact Kate Smith Group