The Perks of Owning More Than One Home

The coronavirus pandemic changed many things over the past couple of years and real estate is no exception. One apparent change is the increased desire to own more than one home. “It has a lot to do with remote working,” says Sanela Lindov, Sales Associate at ERA Justin Realty, “Now that employees are not tied to a commute in one metro area, they feel free to work from a second home farther away.” The Institute for Luxury Home Marketing backs this up. Its recent Luxury Market Report says: “As trends such as remote working and flexi-hours took hold in 2021, so did the flexibility of relocating and the as well as the growth of second homeownership.” “The pandemic changed the way we use our homes,” says Jennifer Darby Metzger, Broker/Owner of ERA Justin Realty. “They’re not just where we lay our heads. They can now be our workplaces and our getaways at the same time.”

 If you are lucky enough to be able to afford a home away from home, here are a few perks you will enjoy:

A Change in Scenery

When you have two homes in different climates you can alternate between them as the weather changes.

 Build Your Wealth Faster

Home equity is skyrocketing thanks to rising home prices. The average homeowner gained more than 50k in equity last year. Yours could be double that with two homes.

 Be Closer to Loved Ones

The pandemic showed many the importance of being near our loved ones. A second home could be closer to the people who matter most, making it easier to see them while having your own space.

 Lock in Your Expenses

Taking advantage of today’s low interest rates will help in the long run if you’re looking ahead to retirement.

Having multiple homes has considerable benefits. If you are considering buying a second home, Sanela Lindov or any of the agents at ERA Justin Realty can help. Contact us by calling 201-939-7500.