If you are like many of us in the Tri-Cities, the onset of cold weather has us thinking about gloves and hats, whether we are equipped to handle a snowstorm, and how to escape to places warmer when the cold weather really starts to chill us to the bone.
While many simply visit an online travel site to determine where they will go to get warm, others may see this escape as a way to actually put money back in their pockets. Investing in a second property out-of-state may be a great way to invest in something that not only may bring a return in wealth, but is also something you may enjoy year-in and year-out.
Below are six popular snowbird destinations with their corresponding second quarter, 2013 median home prices. For reference, a 30 year mortgage with 20% down payment and interest at 5% on a US median-priced home of $203,033 would require a monthly payment of about $871.
Remember, property appreciates at different rates in different areas of the country, so if you are thinking about a specific area, we can help you look at the historic rate of return so you can plan your investing.
If you think buying a second property out-of-state is something you are interested in exploring, please call us! We belong to a large network of real estate agents all over the country and can help you find just the right agent to help with this journey. Give us a call – Jennifer Cowgill at (509) 947-5670 or Jessica Johnson at (509) 947-2230.
