Second Homes & Family Time: 2023 Insights
Ever think you’d get more chances to bond with your family if you had a getaway spot to gather? Well, you're not alone. According to a recent report, over half of aspiring second homeowners believe their family would be more inclined to spend time with them if they owned a vacation property. Here’s the top reasons that 2023 Second Home Attitude Report finds that families are yearning for the perfect getaway;
The Desire to Bond
For many, spending time with extended family is limited to just a couple of weeks a year. However, 62% of respondents expressed a desire to increase the frequency of these visits. It's not surprising that 57% of aspiring second homeowners believe their family would make more time for them if they had a vacation home where they could host the whole gang. Vacations bring out the best in people, with everyone in a better mood, creating a different vibe that makes every day feel like a holiday!
Prioritizing Memories Over Money
The report highlights a fascinating shift in priorities among high-net-worth individuals. 81% of respondents would rather invest in a second home today over goals like earlier retirement or leaving a larger inheritance. This signifies a change in mindset, where creating cherished memories and spending quality time with loved ones take precedence.
Freedom to Explore and Enjoy
The desire for a second home is not just about ownership but also about the convenience it offers. An overwhelming 70% of respondents prefer the freedom to drive to their vacation property rather than having to buy a plane ticket every time they want to visit. The convenience of proximity translates to more frequent use and more opportunities to gather. Following this trend, expect to see the lake communities around the cities continue to grow in popularity.