Baby Boomers Find Value in Second Homes

When we think of those in the market for vacation and second homes, lets face it, there is a certain group of people that seems to come to mind. Those people; the bourgeoisie; the trust funds. The times, though, they are a’changing, as is the person that should come to mind when we think of vacation homes. It seems that Florida Keys real estate, and real estate there-around is becoming accessible to an ever-widening portion of Americans.

The average second-homebuyer has a median income hovering at around $100,000 and a median age of only 44 years old. 80% of the aforementioned second-homebuyers want the home as a vacation home for themselves and their family right now, but many others express interest in eventually moving into the home upon, or well into, retirement. Others still see the recent fall in Florida Keys real estate prices as a chance to invest some retirement earnings, in a market seemingly destined for a large upward turn in the near future. With property values steady and growing and interest rates falling quickly to bring consumers back into a buyer’s market, a vacation home can be another investment in your retirement portfolio; the only difference of course, is that this asset means warm winters on the water, beautiful Florida scenery, and an endless stream of new and exciting activities within a stone’s throw.

With the baby boomers nearing or having reached retirement, the idea of a second home rarely crosses their mind. The sticker shock of a second home often throws people off the trail before they can truly understand the cost-benefit analysis that must be had to get a firm grasp of the advantages of second-home buying. Sure, of course second home buying is not a market meant for everyone, however realtors are finding it especially hard to bring in the ideal consumers for many Florida Keys vacation spots, and those bourgeoisie real estate moguls and fortune 500 employees are buying up vacation and retirement homes as simple portfolio padding. So, come on and treat yourself to the appreciating vacation home and property that will be best for your family and situation; come visit the Florida Keys!