| College Educated Baby Boomers More Likely to | | | | mortgage payment. |
| Own Second Homes | | | | However, the real profit may be appreciation |
| According to a study by Harvard University's Joint | | | | over time. The Real Estate Journal reported that |
| Center for Housing Studies, college educated baby | | | | a family who purchased a vacation home in Park |
| boomers are more likely to own second homes. | | | | City, Utah in March 2004 for $495,000 resold the |
| The Harvard report states, "The estimated odds | | | | property two years later for $945,000, a gain of |
| that a college-educated household head would | | | | $393,300, or about 79.5%. Also, you can tap into |
| own a vacation home vs. no vacation home are | | | | the appreciation and free up your equity for other |
| over four times more than that of a household | | | | investments with refinancing. |
| head with less than a high school education." | | | | 3. Quality of Tenants |
| Benefits of a Vacation Home | | | | Generally, the type of person who rents a |
| 1. Easy and Quick Mini Vacations | | | | vacation home doesn't have money problems, |
| You can get away from your hectic home life | | | | respects property, and leaves on time. Compared |
| and enjoy a retreat without worrying about | | | | to income property tenants who can cause |
| reservations, packing, and planning. If you set | | | | eviction headaches and destroy property, |
| your vacation home up right, you can go for a | | | | vacation renters are the dream tenant. |
| break at the drop of a hat. | | | | 4. Family Traditions |
| 2. Income Potential | | | | Many families spend a summer vacation, |
| Many vacation home owners have a property | | | | Thanksgiving, or Christmas at their vacation |
| manager handle weekend and weekly rentals. In | | | | home. The benefits of quality time: priceless. |
| some resort areas, the income outpaces the | | | | |