Ask the Experts: Second Homes - for Memories and Investment
September 16th, 2013 | by AR
Sundance ranch in Mabank provides an escape on 64 acres with Cedar Creek Lake frontage. Sundance features a log guest house with screened porch, barn, fire pit, putting green, basketball court, streams and pond, float plane dock and a five-slip boat house. Listed by Pete and Susie Ryan for $6,450,000. Photo / Briggs Freeman Sotheby’s International Realty
Keep the vacation vibes going all year long by investing in second home that builds great memories—and equity. Read what expert agents at Briggs Freeman Sotheby’s International Realty have to say about making a sound, second-home investment.
Nancy Dunning
“This seems so apparent, but it’s not always at the buyer’s top of mind when looking for a second home – it must be a good investment. When the economy takes a hit, a second home can be a hard-to-sell property. For that reason, it must be in a proven location in which homes have been shown to hold value.”
Libby Norwood
“The most important thing is resale value. Buy where you think your second home will appreciate. For the most part, that means looking at gated communities and established developments, where the amenities – golf courses, pools, fitness centers, restaurants and more – are finished out. You might have to pay more for the turnkey luxury, but your investment will be more solid and likely will grow.”
Terry Cook
“If you want a second home as a solid financial investment – and investment experts have been suggesting that homeowners should by another property now, if they can – luxury towers can give you the opportunity without the upkeep. Homes in these towers have all of the luxury finishes of your first home – but they offer 24-hour service and a simple, lock-and-leave lifestyle.”
Katye Sloan
“First, consider convenience. Second homes in the one- or two-hour drive destinations are popular, because buyers know they will use those homes often. For instance, some of our clients who live in the suburbs for good schools also want a condo in uptown Dallas or downtown Fort Worth so they can enjoy the nightlife and the arts scene as often as they can.”
Briggs Freeman Sotheby’s International Realty is Dallas’ luxury real estate leader, with more than 190 agents in five offices located throughout Dallas-Fort Worth and access to the global Sotheby’s network, including more than 11,000 agents in 600 offices worldwide. CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty. For more information on escapes and second homes, ranch and land, and luxury homes in the Dallas-Fort Worth region and beyond, go to briggsfreeman.com.
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