While the benefits of owning a second home might seem obvious (hello more beach time!), there are a number of often-overlooked benefits that people either forget or have never considered.
Having worked with numerous clients moving to Boca Raton from the UK, I noticed we were having the same conversations over and over again. The decision to own a second property, particularly one in another country, is always a big one, but the people I have talked to always seem to look back in relief.
With that in mind, here are some of the most often-discussed benefits of owning a second home.
- A home away from home
The familiarity of returning to the same place frequently on vacations can create a second home for you and your family in an entirely different part of the world. Vacations can be stressful because you have to get the lay of the land every time, which can eat into time spent in relaxation mode. With a second home, you become familiar with the local landscape and you establish a base from which you can explore further. From Boca Raton, for example, you can head to Miami Beach, spend a weekend in the Keys, or take the kids on an adventure at Universal Studios. In a second home, you will feel more intertwined in the local landscape, making holidays a breeze.
- Getting everyone together
Because second homes are often in vacation destinations, owning one gives you a way to reunite those closest to you by having family and friends together. You’ll be able to create new memories with your inner circle, maybe even hosting an annual event that becomes a family tradition. Because you know the area so well and have built yourself into the social fabric, you can offer incredible experiences that take vacations to the next level.
- Enjoying retirement before retirement
The place you work and live may be incredible, but every location has its drawbacks. In the UK or Northeast USA, people brave harsh winters and sometimes struggle with difficult weather conditions. For that reason, retirement becomes a haven, somewhere to retreat to for a change of pace, as a kind of refuge. Owning a second home lets you experiment with a potential retirement destination down the road and to reap the benefits of retirement before you’ve actually retired!
If you would like to know more, please get in touch!