Why This Is a Great Year to Sell Your Mississippi Gulf Coast Vacation Home

As vaccines are administered and travel resumes, many of us are beginning to plan for those long-awaited vacations we missed out on over the past year. Some households are focusing their efforts on buying a vacation home rather than staying in a hotel, too. The National Association of Home Builders (NAHB) reports:

“Second homes (i.e., homes sold to buyers who are not going to occupy the home year-round, but use it as a vacation home, investment property, etc.) account for 15 percent of new single-family home sales.”

It’s not surprising that there’s an increase in demand for vacation homes along the coast. The majority of Americans are realizing they prefer to be around small groups, as shown in a recent survey from The Harris Poll:

“Social distancing taught consumers new things about how they like to socialize; (75%) said, ‘during COVID social distancing I realized I preferred smaller social gatherings at home or at friends’ place.’”

Not only are vacation homes seen as a potentially more pandemic-friendly way to travel and socialize, but they can also serve as an extended home-away-from-home. With more Americans being given the option to continue working remotely or retire earlier than expected, vacation homes can be used year-round, especially in our mild south Mississippi climate. The NAHB explains:

“Remote work arrangements have made it possible for some wealthier Americans to move to alternate locations that are not just small, suburban shifts from within their current metro area.  More fundamentally, second home demand may also be benefiting by an acceleration of retirement plans, as well as stock market gains.”

Vacation Rentals are hot along the coast as well. Many buyers are looking to supplement their purchase with extra income during the times they’re not using their second home. Your property may be even more valuable if you have a strong rental history to support an above market price.

Bottom Line

The demand for vacation homes in Biloxi, Gulfport, and other cities along our coast has increased and will continue to rise as we head into summer. If you own a house along the Mississippi coast and have thought about selling, now is a great time to take advantage of today’s high buyer interest. Expect Realty has some of the best REALTORS® in Biloxi and surrounding areas specializing in second home purchases and vacation rentals. Let’s connect to discuss your opportunities in our local market.

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Expect Realty does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Expect Realty will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.