Have you ever wondered what buying a vacation home in a different state would be like? The purchase of a property in a state other than the one you live in may be a good decision from investment point of view. The rates of appreciation, taxes, initial purchase price, and better rate of return are all points that can lure one to invest in an out of state property. But best of all, you will have a home to use yourself during the holidays! There are many places where a second home can prove to be beneficial.
Buying a Vacation Home in a Different State:
- Vail, Colorado – Best Skiing:
Think of skiing and the first thing that comes to mind is Vail, Colorado. This elegant small town was founded no more than fifty years ago, and has exploded in popularity ever since. Situated amidst the Rocky Mountains, it is the sought after destination by the elite, and professional skiers alike. The town plays host to several national and international events like World Alpine Ski championships, dance and music festival in summer, in addition to food and wine fetes.
The big news is that Vail is ranked No. 2 periodical for real estate investments and there are many opportunities for investment properties. A small unit for single family in a desirable neighborhood is always easy to rent or eventually even resell. Condominiums in good localities are also in high demand, as the area has flourished in popularity.
- The Bridges at Rancho Santa Fe, San Diego, CA – Carefree Southern California Home:
A 540 acre gated society with breathtaking scenery, extraordinary golf and élite country club make the Bridges at Rancho Santa Fe the perfect place for buying a vacation home in a different state.
Rancho Santa Fe Luxury Real Estate has evolved over the decades since it was first established in the 1920s, however, it has always been a neighborhood of utmost class and elegance. Nothing says luxury like the homes at the Bridges. Some common features include verandas, pools, spas, guest houses, and wine cellars. The most exclusive properties are situated directly on the golf course on large lots of land. You can choose from the magnificently planned existing homes or opt to build your own from the ground up.
The Bridges clubhouse offers unprecedented formal dining, card rooms for men and women and a posh spa. The newly completed sports center offers Jacuzzi, dry saunas, message rooms, and a host of other facilities.
- Coral Gables, Florida – Fantastic Beaches & Yachts:
The brainchild of George Edgar Merrick, a planned community with spacious streets and ever flowing banyan trees, Coral Gables is also known as the “The City Beautiful”.
Miracle Mile at Coral Gables offers shoppers high class boutiques and specialty stores. Brides from distant lands flock here for the perfect gown. The restaurants and cuisines found at Coral Gables is second to none. With vast Hispanic and European influences, the cuisine in Coral Gables will always keep you delighted.
Homes in the area combine modern luxury with Mediterranean style. A large variety of designs and architecture can be seen throughout the community offering great real estate with fantastic amenities and investment opportunities. Some popular neighborhoods for investment properties include Sunrise Harbour, Snapper Creek Lakes, and Cocoplum homes.
Buying a vacation home outside of your residing state might be a bit tricky due to varying state taxes. Thus, it is important that you speak with a real estate lawyer who is knowledgable in both states so he or she can advise you, and answer all your questions properly.