Trends in Vacation Homes
The Baby Boomers have created a demand in the second home market in different ways. The older Boomers are looking for retirement properties. The ability to work virtually allows people easier access to remote locations and so people are enjoying living in the mountains. Lake Tahoe pulls buyers from the entire Bay Area and Sacramento and the demand far exceeds the supply.
Boomers are also the parents of the echo Boomers another growing population. Baby Boomer parents remember enjoying camping, skiing or hiking as a child and want to offer the same to their children. Income from two parents working and the inheritance from the Bob Hope generation has given parents additional disposable income, which is driving demand.
The purchase of a vacation property can serve two purposes: it allows for family time out of the hustle and bustle of city life, and since they can easily rent the property, it is also a great investment. Owners may only use the property for a few weeks out of the year, and still receive a positive cash flow from rentals the rest of the year.
Inventory in Truckee and Lake Tahoe has been decreasing consistently since 2000. Today, there are also international investors purchasing homes in Lake Tahoe and Truckee. Vacation properties owners have enjoyed a steady increase in equity and buying a vacation home can be a better investment than CDs that pay low returns or other forms of investing and stocks.
Upkeep on your vacation home should also be considered when making a purchase because a condo vs a house will involve different levels of maintenance. If you enjoy close proximity to hiking trails, many properties are located near national forests. Amenities can be considered, both for your enjoyment and also, as an investment. A neighborhood can include houses with and without access to homeowner's piers so it is important that you work with an agent who has a good understanding of these nuances.
Finding the perfect property for you and your family requires an agent who understands your needs and can match this to the available inventory and amenities offered in Lake Tahoe and Truckee. Each neighborhood offers different things and working with an agent who understands this can make the purchase of your dream retreat enjoyable and hassle free. Using the latest in technology, I will keep you informed about properties that match your criteria. When you do come to Truckee and Lake Tahoe to view properties, I will ensure that your time here is organized in a way that you can still enjoy your vacation. I look forward to helping you find that perfect second home. Contact me today.