Second home buyers like going the condo route
The Wall Street Journal report recently pointed out the benefits of buying a condo for your second home. If you want to get away for a vacation, the last thing you want to be doing is cutting the grass or cleaning out the gutters.
A new National Association of Realtors study estimates that sales of vacation homes in 2007 fell 31%, to 740,000, from 2006. But sales of condos dipped only slightly — down 2.8% — while sales of detached homes dropped 38%. The upshot is that condos cornered a substantially larger share of the vacation-home market last year: 29%, up from 21% in 2006.
Condos are selling better than single-family vacation houses for a number of reasons. They don’t require their owners to maintain lawns, trim shrubs, paint the exteriors or replace roofs — increasingly important concerns to an aging population. Condo communities also tend to offer amenities such as pools and clubhouses. And condos usually are cheaper to buy, and easier to resell, than houses.
Condo sales in Naples out sell the single family homes. If you’re interested in the Naples real estate market, then please contact Ruth Bethem, Broker-Associate, at ruth@ruthbethem.com or toll-free at 877-777-7545.