Despite inflation and cost of living going way up, vacation homes reached a high point during the pandemic. A recent study by Travel and Leisure tells us that Florida is one of the most affordable states for a vacation home. We’ve obviously seen a huge increase to people moving to Florida, but how many are buying places just to escape the cold months?
This study considered multiple factors for affordable second home states. They used initial purchase price, utilities, maintenance, property taxes and potential income as factors. Affordability may mean something to others. It’s always important to consider income, financial commitments, and your stage in life when buying a vacation home. Many people use their secondary homes as rental spots or AirBnB’s when they’re not being occupied. The good news is you’re more likely to be able to find renters in the Sunshine State.