Beyond Vacation: Exploring the Surge in Second Home Ownership

When I reminisce about growing up in Iowa, the image of quaint fishing cabins by the lake (most often in Minnesota) instantly comes to mind. These cabins, retreats for dads and grandpas on weekend fishing trips, transformed into lively family retreats during summer vacations—filled with days of swimming, water skiing, and fishing. Though modest and minimal, these 'vacation homes' served a purpose; offering more permanence than a tent, they were comfortable havens complete with a kitchen and a bathroom. As the years passed, these cabins evolved into larger, modern homes, expanding their utility to accommodate winter get-aways and, in some cases, becoming primary residences during retirement.

The COVID years ushered in a new era for second homes, fueled by remote work flexibility and enticingly low-interest rates. Many sought solace in mountainous landscapes or dense forests, while others opted for the urban condo lifestyle. Closer proximity to family became a driving force, with the vision of these second homes transitioning into primary residences upon retirement.

However, the decision to purchase a second home is not without its challenges. Affording the initial purchase is one thing, but have you considered the ongoing expenses—maintenance, repairs, taxes, and insurance? While you may think about renting the property on platforms like VRBO or Airbnb to help pay for it, beware of community regulations that may restrict or prohibit such practices. Additionally, understanding the risks associated with natural disasters specific to the location is crucial.

Yet, if you find yourself daydreaming about owning a second home, it's never too early to start turning that dream into reality. Initiate a conversation with a professional Realtor® who can guide you through the potential pitfalls of real estate in your desired community. I can help connect you with a trusted expert who will safeguard you from making any regrettable decisions. Let's take the first step toward making your second home dreams a reality.

Poll Results 

In my newsletter last week, I asked what type of winter vacation home was preferred. Here are the results: 

37% Mountain Chalet 

36% Beach House 

27% Lake House 

My Experience 

Interestingly enough, living in a cold climate one would expect a favored winter get-away to be someplace warm, a beach house; yet, the poll result lines up with my personal choice. A place in the mountains complete with downhill skiing and lots of hot cocoa available. During the years of raising a family, there were many week-long trips to a winter retreat in Copper Mountain in Dillon, CO. To this day, hearing a song by Santana can instantly transport any member of my family to riding in the car up the mountainside, anticipating a day of going down the slopes and back up to go down again, and again. It is for these treasured memories that having a favored place to return to year after year is something special indeed.

Norwalk IA Real Estate – Jon Niemeyer, Broker/Owner/REALTOR® at EXIT Realty North Star. I list and sell real estate in Central Iowa including Norwalk, Des Moines, West Des Moines, Cumming, Indianola, Carlisle, Waukee, Urbandale, Grimes, Clive, Johnston, Ankeny, Altoona, and Pleasant Hill in the Counties of Warren, Polk, Dallas, and Madison. Call Jon Niemeyer at 515-490-4675.