A home is more than just a place of residence. For a select few, it is also a reward for all their years of hard work—a cherry on top of the cake, so to speak. As such, it’s not surprising why many successful people purchase homes for sale in prestigious communities such as Daytona Beach, FL. After all, who wouldn’t want to own a home overlooking the beautiful ocean and in close proximity to attractions such as race tracks, museums, boardwalks, and similar entertainment.
Moreover, your vacation does not need to include distant flights, cruises, or time-shares; your beach side home is a stone’s throw away from all the relaxation and escape you really need. Need a little nudge to take the plunge? Then take a look at the three following great perks to owning a vacation home in Daytona Beach.
A lot of people want to live in beach side properties, but a finite number of lots along the beachfront exist. In short, it all boils down to supply and demand: As the numbers of lots dwindle, the price of beach side properties increase. Imagine if you managed to own a home in this community and how much valuation it might accrue. Your investment in a Daytona Beach vacation home is actually an asset to add to your financial portfolio as well.
Potential Tax Savings—and Income
Most owners of beach side homes stay in them for just a portion of the year, which means it can be rented out in your absence. If you collect rent from the property for no more than two weeks out of the year, you can deduct the mortgage interest and property taxes from your gross income. If you do decide to make it a full-time rental property, but use it personally no more than two weeks per year, all the operating expenses can be deducted from your annual taxes.
Get Started on Retirement
Most likely, your current residence won’t be the one you’ll live in when you retire. Many retirees end up buying another home in a place they really love, suitable for their golden years. But why wait until you’re retired to do so? If you purchase a Daytona Beach vacation home now, it can serve as your retirement residence later. Since you bought it early, you’ll pay off the mortgage sooner, allowing you to fully enjoy your retirement.
As you can see, a vacation home in Daytona Beach offers many financial and practical perks. If you think it’s time to invest in one, contact an exclusive buyer’s agent who knows all the hottest properties on the market, like Karen Wiles at The Buyer’s Agent of East Florida. Call us at (386) 788-2424