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While saying that “there’s no such thing as owning too many houses” can be excessive, there’s really nothing wrong with owning two homes. According to the National Association of Realtors (NAR) 2012 Investment and Vacation Home Buyers Survey, vacation home sales reached a four-year high as more families desire to have a getaway destination of their own and as more investors turn to real estate as a way to diversity and strengthen their portfolio. Real estate properties can appreciate in value in levels no stocks would. Luxury properties are emerging as an exclusive category in second home properties and are much coveted. Take for example St Regis Bal Harbour Condos which is already generating buzz and has gained the attention of Forbes even before it broke ground. If you have the means to do it, acquiring a high-end second home is a sound investment, given that you consider the things below: The Purpose of Your Purchase
How do you intend to use your second home? As an investment property or as a vacation home? Have a sense of foresight that this may change over time so look for real estate that can fulfill both. For example, St. Regis Condos, because of its oceanfront location is an ideal vacation getaway for you and your family. At the same time, its amenities and services also make it a good rental home. A tip when it comes to renting out a property. If you plan to move to your second home and make it your first home in the future, it would be better to rent it out as a transiently. Aside from preserving the integrity of your home, you won’t have to pay taxes if you rent it out for 14 days or less.But for serviced condos with hotel-like upkeep such as St. Regis Bal Harbour Condos, you don’t have to worry about property management. Scout for Properties in Tourism Hotspots
Did you know that the growth within the vacation home rental market surpasses that of the total projected Gross Domestic Product (GDP) for the entire country according to a study conducted by Bureau of Economic Analysis? To make the case even stronger, the US Travel Association said that there has been a steady growth in domestic and international travel expenditures in the country. The key takeaway: people are out and about as long as they are traveling, they would need a place to stay. Coming from a long line of trusted and award-winning hotels, St Regis Bal Harbour Condos are in keeping with this demand. Miami has been and always will be a tourism hotspot in Florida and there’s really no sign that it’s going to change soon. St Regis Condos and other luxury beach front properties from reputable developers should be your first option for upscale second home investments. Given that you’ve looked into the pertinent criteria given above, you should be able to reap the benefits of purchasing a second home. Best thing about leading condos of Miami is their proximity with the beach.st. regis condos are the chartbusters here when scenic Miami beach & sanky houses make your dream come true.Great reviews I see when I come to know about these st regis condos in Miami.
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