Real Estate. Don't Dream. Own.
14 PLACES TO BUY A SECOND HOME...NOW!
From the Editors of Men's Health Living
EARLIER THIS YEAR, CHRISTOPHER BOOTHBY BUILT HIS DREAM HOME ON A BLUFF overlooking the Pacific Ocean. The 3,600-square-foot house has an infinity pool with a one-story waterfall and views of pristine white sand and blue water. The great room is open on three sides, and the plunge pool, located on the third-floor terrace, provides an unobstructed view of the sunset.
For all this, Boothby paid $249,000. Not bad, huh?
Okay, so the home isn’t in Malibu or Monterey. Boothby, 41, had to go a bit farther south, to a Nicaraguan development called Rancho Santana. Nicaragua is only a 3-hour flight from Houston, which is why Americans are scooping up vacation homes there, and, as a result, property values are rising.
Almost two-thirds of young men dream of owning a second home, according to a survey we conducted at MensHealth.com. For most, it’s a late-in-life, after-the-kids-leave-the-nest kind of goal. But it doesn’t have to be. Now is an especially good time to buy, for one simple reason: You don’t also have to sell. In fact, according to the National Association of Realtors, vacation-home sales rose almost 5 percent last year, a small bright patch in an otherwise grisly housing picture.
And, surprisingly enough, retiring baby boomers aren’t driving the trend, at least not alone. The average age of a vacation-home buyer is 44, down from 52 in 2005. With the dot-com market bust firmly in memory, younger guys are thirsty for real assets and the tax write-offs that go with them. “I work hard,” says Boothby. “I don’t want to wait till I’m 65 to enjoy my reward.”
Whether your ideal retreat is at the beach, on a mountain, or astride a golf course, here’s where to buy. Today.
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14 May 2008, 12:51
Matt Freda
contactme@cashbackorlando.com
<a href=http://www.cashbackorlando.com>Orlando Real Estate</a>