During the pandemic, working from home became the new norm and for some, buying a second home to get a change of scenery and mix it up became an appealing option.
With many employers still allowing their employees to work remotely, local real estate agent Chris Cooley says the vacation home market is booming.
"Now that the geographic pressures of living close to work have eased, people want an escape, they want some more elbow room, they want to focus on something other than living at home and working at home," Cooley said.
If you’re looking for a good vacation home investment, Cooley suggests trying to stay within 2-3 hours of Seattle.
"While the home doesn’t have to be big, the more people it can accommodate, the more demand it will have when selling," Cooley said. "Also, most demand for vacation homes are homes near recreational activities like hiking, boating, camping, etc. Many buyers are looking for a place on a lake or a river, or views of a mountain or the Sound. Make sure to secure your financing, while many lenders will lend on vacation homes, the interest rate may be a little higher and you may be competing with cash buyers."
If you're considering buying a vacation home now or in the future, Cooley shares the 7 top spots where buyers are purchasing now. (And can we say... all look amazing!)
San Juan Islands
Lastly - Any lake within 2 hours of Seattle!
What's the best time to buy and sell? Cooley says, as a seller, Spring and Summer are the busy buying seasons where prices tend to escalate, "Buyers usually benefit from vacation home purchases in the rainy winter months when there isn’t as much competition."
Chris Cooley has been a real estate agent for 20 years and counting. He prides himself on keeping up with the ever-changing market, staying educated on current trends, strategies and effective tactics to be successful. If you're in the market to buy or sell a home, learn more about his services here.
Kate Neidigh is a freelance writer for Seattle Refined. Follow more of her work here.