What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

Conquering the Mortgage Lender’s Dilemmas

This webinar provides a roadmap for creating a sophisticated, digital-first cost improvement strategy to maximize profits by reducing high processing environments.

HW's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

We need higher mortgage rates to cool the housing market

2020-2024 will have the best housing market demographics and the lowest mortgage rates ever recorded, which could accelerate real home prices too quickly.

InvestmentsReal Estate

The latest rich-person problem: Vacation home guilt

Half of second home owners said they feel bad for not visiting their property enough

Do you have a lake house or home in the mountains that you don't make enough time to go to? You're not alone.

Or, let's try that again… 

Do you wish you had a lake house or a home in the mountains? Don't worry, you probably wouldn't use it anyways. 

In a study from LendingTree, it turns out that 53% of vacation home owners said they feel guilty about owning a second home. 

Owners of vacation homes say they had intended to make good use of their property, but haven’t gotten around to doing so. 

Some have also felt the pressure, with 40% of vacation home owners saying they felt pressured from family and friends to visit the property. 

When it comes to buying a second home, the study revealed a sizable number of homebuyers were looking to park their cash in a place that might bring a notable return, with 39% of respondents saying they bought the property as an investment. The second greatest motivation was to own a vacation home (36%), while the desire to rent the property came in third (26%). 

Almost half of homeowners said they feel guilty about not using their home as much as they intended, while 37% said they use their vacation home once a year or less. 

Those who didn’t use their additional home very often, 31% to be exact, said they sold it because of that. 

Here are the other reasons why respondents ultimately decided to sell their second homes:

Most Popular Articles

Josh Team out as Keller Williams president

Josh Team is out at Keller Williams, not long after he received what appeared to be a promotion. He announced his resignation on Facebook.

Feb 22, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please