Posts from September 8th, 2020

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September
8

Should You Buy a Vacation Home in 2020?

September 8th, 2020 by Howard Hanna Coach Realtors

Vacation Home Pros & Cons - Coach Realtors

Like many people, you've probably dreamt of owning a vacation property. But is 2020 the right year to take the plunge on a second home? After all, mortgage rates are at a historical low. But this is a time of economic uncertainty. And we don't know when the economy will fully recover from the impact of the COVID-19 pandemic. There's a lot to consider before you invest, which is why Our REALTORS® give you this rundown of the pros and cons of buying a vacation home in 2020.

Pro: Mortgage Interest Rates Are Hitting Record Lows
If you have the income stability, buying a vacation home in 2020 may make a lot of sense. Mortgage interest rates at a historical low and it's predicted that this will continue into 2021. According to Freddie Mac, the average interest rates in August 2020 dropped below 3% for the first time ever.
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Categories: Buy a home

Tags: For Buyers, Howard Hanna Coach Realtors, Buy a House, Homebuying tips