Maui is a haven of beautiful vacation homes. In fact, there are more than a hundred properties in my listings featuring a variety of styles and designs. So now you are asking whether it is a good time to buy a vacation home in Maui. Well, a host of market conditions have come together to make buying a vacation house in Maui, a wise move just about now.
In Maui, low price and less competition is the tip of the ice berg when buying a property. In 2009, home prices were as 25 percent low as sales is concerned. The prices have gone a little bit higher now, but rest assured to have more upscale houses in return. If you think of it, buying a vacation house is a wise investment other than being a wise addition to your valuable assets. As your home value goes up, you get higher returns when you plan of selling it in the future.
Rental home demand is hiking up
Stiff economy has turned rental homes more expensive than before forcing budget travelers to stick closer to home. Not quite obviously, rental demand exceeds supply in many areas around the country.
Think of this: For a week long vacation, domestic travelers can save on plane ticket, food, and rides. But hotel rentals always stay up on the list as the biggest cut on their getaway bucks.
When you have a vacation home, you get all the comfort you need to feel the vacation without having to worry about the bills piling up. You can get all the comfort you need at a rate less costly than a hotel room. This is especially true if you have an extended family who loves to travel a lot and stay longer than planned.
You don’t have to bid
Unless you are buying a foreclosed property, you don’t have to bid. Try to skim the listings and take your time. Do your research. Weigh all things that you need to consider such as budget, size of your family, and how often you would want to go back to Maui. Then refine your plan. This time you are not under any pressure to make a quick decision.
Finally, you would want take the stock market.
The fluctuating stock market has pushed people to look for alternative investments, and fortunately real estate has had steady returns so far. Even if your home value is down right now, they can always make a rebound in the future. For example, while you are away you can have your vacation home rented for other tourist. You can surely make a nice profit out of it.