Featuring property guru Terri Bass and her take on second homes

 

By Janice Carter Levitch Humphrey
Photos by Tom Jenkins

 

Have you noticed more of a trend for second home purchases? There is a much higher interest in second homes now. COVID forced us to live differently. We realized we could work remotely, so why not mix it up? Second-home sales rose 16% in 2020 and are up 33% through April of this year. The median price for second homes has increased from $416,100 in 2020 to $467,100. Buying second homes has become one of the fastest-growing trends in the US. More than 30 million Americans will enter the second home market within the next decade.

Terri Bass.

Who are the buyers of second homes?

Many people believe second homes are just for high-net-worth or retired individuals, but that is not the case. Second-home sales are soaring, and inventory has shrunk in every price category. Buyers purchase properties in areas…

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