It’s a new year – Is the time right for a second home?
By Urban Real Estate
Each year, we set out a list of resolutions and goals — things to achieve in the new year — but some goals are more important than others.
One important goal is understanding what your real estate aims are and deciding where you want to go and how you want to get there.
“The beginning of the new year is the ideal time to map out your short and long-term real estate dreams,” says Michael Emery, senior partner, Urban Real Estate. “Buying a second home is both rewarding and can generate revenue until you are ready to enjoy it. Think about recreational climates, cities where the opportunity of short-term rental services are welcome and where they make sense.”
According to the National Association of Realtors, 45 percent of investment buyers bought their investment property to generate income through renting the property. Of those surveyed, 24 percent of those with investment properties rented the property in 2017 as a short-term rental.
Urban Real Estate agents work with clients and help them consider not only their investment buying options in Chicago but in other cities as well. Whether a buyer is considering cottages in Michigan, homes on golf courses in Florida or a chalet in Vail, being able to set yourself up for making that dream a reality doesn’t need to seem out of reach.
“We have a network of brokers across the country we work with to help identify just what might work for you, and the lifestyle markers you hope to realize with its immediate purchase,” Emery says.
Jumbo loan products paired with ways to generate income for the investor can make the dream of second-home ownership a more attainable reality. “Vacation rental services can help you cover many of the costs related to a turn-key or fixer-upper purchase in an attractive community which welcomes short-term rentals. The key is working with a trusted broker to help you identify property that is valuable and worth the investment if the home isn’t one you’ll be using often for yourself,” adds Emery.
Explore your second home dreams with the Urban Real Estate team of brokers. Contact us at (312) 528-9200 for your second-home or other real estate needs.