Property investors rode a wild wave during the pandemic, with the short-term rental market stopping, then restarting, and property prices in many second home markets soaring. What does the future hold for new second-home owners and for managers of more robust property portfolios? We’ll explore that and more, all May long, at Inman.
Over the past year, lockdowns and a work-from-home lifestyle not only pushed people to reevaluate what they value in a home, it also sparked the desire to invest in getaway properties in rural or coastal locales.
So, how are agents reacting to this demand? Last week, we asked you to share your top tips for helping clients who want to own a second home in today’s market. Though the responses were scarce, they seemed to zero in on the importance of working with the right agents — with a healthy, well-rounded knowledge of their markets. Here’s everything you said:
- Find the right agent to heavily rely on with all your questions about the best area that matches your lifestyle.
- With demand so high and inventory so low, buyers are purchasing properties that have serious incurable defects, and they probably don’t realize it because they are poorly informed on the market.
We’ll compile a list of the top responses and post them on Inman next Tuesday.
What did we miss? Please share your thoughts in the comments section below.