{"id":7944,"date":"2023-01-12T11:30:00","date_gmt":"2023-01-12T11:30:00","guid":{"rendered":"https:\/\/thezakariagroup.com\/is-it-time-to-sell-your-second-home\/"},"modified":"2023-01-12T11:30:00","modified_gmt":"2023-01-12T11:30:00","slug":"is-it-time-to-sell-your-second-home","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/is-it-time-to-sell-your-second-home\/","title":{"rendered":"Is It Time To Sell Your Second Home?"},"content":{"rendered":"
\"Is<\/p>\n

During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That\u2019s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or with different home features. Keep in mind, a luxury home isn\u2019t only defined by price. In a recent article<\/a>, Investopedia <\/em>shares additional factors that push a home into this category: location, such as a home on the water or in a desirable city, and features, the things that make the home itself feel luxurious.<\/p>\n<\/p>\n

A recent report from the Institute for Luxury Home Marketing <\/em>(ILHM) explains<\/a> just how much remote work impacted the demand for second and luxury homes:<\/p>\n<\/p>\n

\u201cThe unprecedented ten-fold increase towards remote work since the pandemic is an historic development that will continue to fuel second home demand for many years to come.\u201d<\/em><\/p><\/blockquote>\n

But what if you bought a second home that you no longer use? If you\u2019re now shifting back into the office or are seeing your priorities and needs change, you may find you\u2019re not utilizing your second home as much. If so, it may be time to sell it<\/a>.<\/p>\n<\/p>\n

And if you own what\u2019s considered a luxury home, buyer demand for it may be even greater. In another report, the Institute for Luxury Home Marketing<\/em> explains<\/a>:<\/p>\n<\/p>\n

\u201c. . . the last few years have left their legacy for the luxury market. While it might only represent a small percentage of the overall real estate market, luxury homeownership\u2019s influence is growing<\/strong>. Not only has the purchase of homes valued over $1 million (a figure considered by the National Association of Realtors to be a benchmark for luxury) tripled from 2.6% to 6.5% since 2018, but demand for multiple luxury properties has soared over the last two years<\/strong>.<\/em><\/p>\n

This phenomenal increase has been driven by a growing affluent demographic who consider owning a luxury property a necessity in their asset portfolio.<\/em><\/strong> All indications are that this trend is here to stay, albeit that demand is set to return to a more sustainable level.\u201d<\/em><\/p>\n<\/blockquote>\n

If you own a luxury second home that isn\u2019t being used as much anymore, now\u2019s the time to sell. There are still buyers in the market who are looking for a home like yours today.<\/p>\n<\/p>\n

Bottom Line <\/strong><\/h3>\n

Let\u2019s connect to explore the benefits of selling your second home this year.<\/p>\n<\/div>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That\u2019s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or with different home features. Keep in mind, a luxury home isn\u2019t only defined by price. In a recent […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[100,102,872],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nIs It Time To Sell Your Second Home? - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/is-it-time-to-sell-your-second-home\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is It Time To Sell Your Second Home? - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"During the pandemic, second homes became popular because of the rise in work-from-home flexibility. 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