Demand for vacation and investment homes is driven by affluent Americans buying vacation properties either for their own use to enjoy seasonally or for leisure activities, or as an investment that offers potential rental income and long-term appreciation. A recent survey conducted by real estate consulting firm RCLCO looked at what this growing segment of potential homebuyers prioritizes and what motivates them in making their vacation home purchasing decisions.
The RCLCO 2024 Vacation and Investment Home Survey Report shows that beach homes are the most sought-after type of vacation or investment property (60% of respondents say the beach is their top choice location), with lake, mountain, and city residences also scoring highly. And the investment potential of the vacation home is also an important factor (63% of respondents expect the property to appreciate meaningfully and/or to provide meaningful rental income).
For those looking to buy a home, a majority (61%) would prefer a move-in ready home which they would be able to enjoy immediately. A smaller share (26%) are interested in a semi-custom home where they may pick from a set of plans with customization and finish options, while the remainder (13%) would prefer to design a custom home working with an architect, which results in more customization but takes longer.
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