Is It Time To Sell Your Second Home?
Andy Rose
Andy brings to the table over 12 years of real estate experience including becoming a licensed Georgia broker in 2018 and a licensed Broker in Fl...
Andy brings to the table over 12 years of real estate experience including becoming a licensed Georgia broker in 2018 and a licensed Broker in Fl...
During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That’s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or with different home features. Keep in mind, a luxury home isn’t only defined by price. In a recent article, Investopedia shares additional factors that push a home into this category: location, such as a home on the water or in a desirable city, and features, the things that make the home itself feel luxurious.
A recent report from the Institute for Luxury Home Marketing (ILHM) explains just how much remote work impacted the demand for second and luxury homes:
“The unprecedented ten-fold increase towards remote work since the pandemic is an historic development that will continue to fuel second home demand for many years to come.”
But what if you bought a second home that you no longer use? If you’re now shifting back into the office or are seeing your priorities and needs change, you may find you’re not utilizing your second home as much. If so, it may be time to sell it.
And if you own what’s considered a luxury home, buyer demand for it may be even greater. In another report, the Institute for Luxury Home Marketing explains:
“. . . the last few years have left their legacy for the luxury market. While it might only represent a small percentage of the overall real estate market, luxury homeownership’s influence is growing. Not only has the purchase of homes valued over $1 million (a figure considered by the National Association of Realtors to be a benchmark for luxury) tripled from 2.6% to 6.5% since 2018, but demand for multiple luxury properties has soared over the last two years.
This phenomenal increase has been driven by a growing affluent demographic who consider owning a luxury property a necessity in their asset portfolio. All indications are that this trend is here to stay, albeit that demand is set to return to a more sustainable level.”
If you own a luxury second home that isn’t being used as much anymore, now’s the time to sell. There are still buyers in the market who are looking for a home like yours today.
Let’s connect to explore the benefits of selling your second home this year.
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He made the process of easy!! Would highly recommend him and Stephanie.
Andy did a great job!! Even after the buying and selling was done, he still followed up with us. He made the process of easy!! Would highly recommend him and Stephanie.
Cash in hand above asking within 10 days!
Our home was on the market for 8 months with multiple failures to close and numerous frivolous and expensive repairs being made before we were introduced to Andy. Within 10 days after we selected Andy as our realtor we had closed with cash in hand above our asking price. Select Andy as your realtor as soon as possible because his enthusiasm, prompt actions, professionalism and expertise will likely yield a transaction experience that is as pleasant and profitable as possible.
Will work hard for his clients!
Andy did a great job for us in the sale of our house. We had relocated out-of-state and needed to just 'unload' our house. Andy was able to find us a buyer and close the sale. He is a great agent who will work hard for his clients. If you need a realtor, I can't recommend Andy enough.