What do we know about today’s second home buyers?

An increasing share of second home buyers are in the market for the investment potential including many multiple owners.

With vacation rental income in mind, a quarter of the 721 buyers who are currently in the market for a second home, are looking for multiple vacation homes.

The first-of-its-kind survey from vacation rental company Vacasa also found that most of the buyers, across the generations, are planning to spend less than $400,000.

Where the generations diverge though, is their motivation for buying with those in their mid-50s interested in a second home for personal use while younger buyers are focusing on investment; 61% of buyers in their 30s are investor buyers.

More than a third (37%) of respondents want to use the positive cash flow a vacation rental home to finance a dream while 32% want to generate income, and 19% are keen to diversify their assets.

Most buyers (65%) said they do not have a definite city they want to buy in and nearly a quarter claimed they would buy a home sight unseen if they had visited the region at least once and the home met certain criteria.