Posted on June 2, 2020 By Mark Arbeit and CO
Everyone knows how much fun it can be to live at the shore. The beach, the boardwalk, great restaurants, and world-class shopping are right around the corner when you have a vacation home- and this is why so many people flock to the beach every summer. But what you may not consider is how much owning a shore house can improve your life even when you aren’t eating, shopping, or soaking up the sun on the AC boardwalk. Owning a vacation home on the Jersey Shore is a great investment that can yield many social and financial benefits besides just easy access to fun at the beach.
If you want to experience these benefits firsthand, Mark Arbeit and Co. has extensive knowledge of Jersey shore real estate listings and a team with the expertise to help you find the perfect vacation home for your needs and budget. There several compelling reasons that owning a home at the Jersey Shore can be well worth the investment:
Any shore home requires an initial investment to own, and the financial aspect of buying a second home can keep many people from taking the leap. But what all prospective vacation home buyers should know is that owning a home at the shore can pay for itself and actually make you money over time.
In popular resort towns, renters will often be willing to pay you each week to stay in your home. During peak season, weekly rental fees can be as much as your home’s monthly mortgage payment or more. Certain features like a pool or proximity to the beach can drive rental prices up even further. By allowing renters to occupy your home for a certain amount of time each year, you can essentially live there for free during the rest of the time. Additionally, your second home can actually be turned into a source of income if you choose to rent it out for a longer portion of the year.
Even if you choose not to rent out your vacation home, you can still see returns on it in the form of tax deductions. Every April, taxes are an issue for all New Jersey residents. If you’re like most people, you try to get as much money back as possible each year. When you buy a vacation property, you make yourself eligible for new tax deductions that can help you get some of that money back. If you rent your vacation out for two weeks or less in a year, the interest on your mortgage and property taxes can be fully deducted.
Comfortable and Secure Retirement
Almost everyone with a job dreams about their retirement and how they will spend their days when work is done. If you are looking for a relaxing place to spend your golden years, the Jersey Shore can be ideal. Many shore towns are slow and lazy for a good part of the year, leaving you without crowds or traffic to worry about. Shore homes can also be a steady stream of income for you after retirement if you choose to rent a room or two out for part of the year.
Buying a shore home can be a life-changing investment with many benefits, but navigating Jersey shore house listing yourself can be a challenge and it’s critical to find the right team of experts to help you navigate the world of beachfront real estate. To learn more about vacation homes in Atlantic County, contact Mark Arbeit and Co today!