Hudson Valley Vacation Property: Now’s a GREAT time to Buy

Hudson Valley Vacation Property. Are You Looking to Buy? Now Is A Good Time!

Have you always dreamed of buying a vacation or second home? A change of scenery, close enough to get to, plenty of room to stretch out and relax? Consider the beautiful Hudson Valley of NYS. There are many charming villages and towns in the Hudson Valley area, and now is a great time to buy!

According to the Investment & Vacation Home Buyers 2018 Report by NAR:

“72% of vacation property owners and 71% of investment property owners believe now is a good time to buy.”

It’s time to take advantage of the equity in your home. As the latest Equity Report from ATTOM Data Solutions stated:

“Nearly 14.5 million U.S. properties (are) equity rich — where the combined estimated amount of loans secured by the property was 50 percent or less of the property’s estimated market value — up by more than 433,000 from a year ago to a new high as far back as data is available, Q4 2013. The 14.5 million equity rich properties in Q3 2018 represented 25.7 percent of all properties with a mortgage.”

This means that over a quarter of Americans who have a mortgage would be able to use some of their home equity to make a significant down payment toward a vacation home, and many are doing just that! According to the same report by NAR:

“33% of vacation buyers purchased in a beach area, 21% purchased on a lakefront, and 15% purchased a vacation home in the country.”

Many homeowners who are close to retirement will use some of their equity to purchase vacation homes, which may eventually become their permanent homes post-retirement!

Call on Terry May

If you are a homeowner looking to take advantage of your home equity by investing in a vacation home, let’s get together to discuss your options! If you’re considering buying or selling a home in Rockland, Orange, Bergen, Morris, Passaic County? Contact Terry May! Call (845) 729-3030 or Email Terry at terry.may@randrealty.com

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