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In case you´re wondering if it is time for life to start baring some fruit for all your hard work over the years, the answer is a resounding YES.  Are your ducks in a row? Have the children flown from the nest and spread their wings and you and your spouse understand that the equity you have built up in your present home can be used for a second home?
Have you always had the hard working ethics your parents drilled into you since you learned to walk and feel its time for you and your spouse to plan the rest of your lives? Given the chance, would you consider discussing the possibility that your income property is just not making a profit like it used to?
If you have answered yes to any of these questions, you will want to understand a few realities about acquiring your second home.
Over 2/3 of the homes in this nation were built before 1980. Which tells us they were bought by those of us that are traditionally called (and I´m only going to say it once)"Baby Boomers". And due to the recent rise in sales of second homes, you´re ready for a change.
 Consider your options. There are a number of reasons to purchase your second home in Pacific Beach or any one of the coastal towns. Call my office and we can discuss in more detail the many advantages to realizing your second home. I can help you discover just what you are going to do with the best time of your life.
San Diego is ideal for upscale low maintenance homes at still reasonable prices. Homes in the coastal San Diego area are not you´re average cookie cutter track homes. They are unique and have a character all their own.
Where can you have the pleasure of beautiful mild year round weather, keep yourself physically fit and have the grand children over for a week or a weekend? Have you heard thru the grapevine that Pacific Beach, Ocean Beach and other sleepy coastal towns are the place to be when it comes to the after life (ie) after the corporate job, after the child rearing and ok I'll say it....retirement. The variety of people is wide. The activities both indoor and outdoor are rejuvenating. My office has been on the lookout for your vacation or second home and I would very much like to extend an invitation to you to browse our inventory of upscale single family homes, modest condos and fashionable town homes in the Pacific Beach area that are currently selling at reduced prices.
 Are you starting to wonder if your investment property is becoming more of a hassle then its worth?
If the expenses for upkeep on your income property and hiring outside companies to maintain it are taking more dollars then the property is generating, you may want to think about the advantages of a 1031 Exchange.A 1031 Exchange means you can sell your investment property and buy a "second home" or vacation home for equal or higher value and the taxes are deferred until the sale of the second home. There are other regulations and time demands regarding 1031 Exchange but that is the basic principal.
If you are ready to sell your investment property and buy your vacation home, lets talk. I have been working a great deal with happy second home buyers here in San Diego the last few years. For instance, a new condominium community has completely sold out. Long before the homes were ready to move into. Nearly 45% of the buyers were making the purchase as a second home.
If you purchase a coastal property it can be an excellent winter getaway in the cold months and down right freezing winter months of your present home town. I'm sure you are aware these people are called "SnowBirds". Alright enough with the cliches and nick names. You can then rent it out during the weekends and summer months when tourism in the San Diego Real Estate area is high. Families would rather pay the extra cost to stay out of the local hotels and motels and stay for a few weeks in the comfort of a beautiful home.
My office can help you with management of the property while you are away. The variety of short term guests will have ready cash, and will be able to give their family a leisurely seaside vacation.  They are also more inclined to be respectful of your property. The amount of rent you can ask will most certainly help pay the mortgage or upkeep costs. You can sometimes charge as much as two or three times the monthly mortgage during the summer months. You will still be able to plan your vacations and holiday get-togethers at your seaside home, and the memories of such occasions can be priceless.
Buying a home for your graduate student to live in while at school and before you are ready to retire, is a good way to utilize your second home and keep it maintained.
This may be another aspect to consider.Your son or daughter may be considering attendance at any of these 5 local schools:
Why not purchase a second home in any of the many neighboring towns in the San Diego Region.
Thinking about purchasing your second home with available cash at hand may not be as appealing as one might imagine.
Although at first glance the thought of another mortgage payment may sound frightening. Why miss out on tax deductions a new or second mortgage can provide. And remember, you will want to furnish the second home and available cash would make it that much easier. Although the interest rates are a bit higher then they were four years ago. They are not anywhere near the 18% and 20% we saw in the early 1980´s. Yes it is a good time to lock in a modest second home to be enjoyed by you and family members now, and can be used later as your retirement home. Consider the advantages. Take a look at our inventory of homes in the Pacific Beach area and let's get the ball rolling! |
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