Unsurprisingly, many people want to own second homes on Florida’s Emerald Coast. Destin is a great vacation spot with so much to offer, and you might wonder what to expect from buying a second home in Destin. This post will cover some of what you need to know.
Emerald Coast Real Estate Market Watch
As of June 2023, the median list price for homes in Destin, FL, was $800,000. However, real estate trends can change quickly. If you need to buy or sell a home on the Emerald Coast, click here to contact us.
If you are interested in Destin, you already know it is an amazing vacation destination. It has crystal clear waters and beautiful beaches on the Gulf of Mexico. When you buy a second home here, you own a small slice of paradise. It will be a vacation retreat you can visit at any time.
Destin has a diverse array of property types and neighborhoods. You can select from homes right on the beach or on Destin Harbor. There are properties a short distance from the beach. Buyers can choose from single-family homes, townhomes, condos, and duplexes.
As a place people love to vacation, Destin has a robust real estate market. People not only want to own vacation homes here, but it is also popular among rental investors. That means homes tend to appreciate over time. If you hold onto the asset for a while, you should be able to sell it for a profit.
You could also rent your second home in Destin to vacationers. Most second homes are empty much of the time. You could generate a little income by listing it as a vacation rental when you are not there. You will need to learn about managing vacation rentals, but it could help you cover the costs of the home.
Another point is that buying a home in Destin requires many of the same steps as buying your first home. You must consider your finances, handle due diligence, and make monthly payments. Assessing property taxes, maintenance, and other routine expenses is also important.
Working with a local real estate agent can make buying a second home in Destin easier. You can tell them about your goals and what you are looking for. With that information, they can help you find the right property.
Are you interested in buying a second home in Destin, FL? Click here to contact our team. We are experts in the Emerald Coast real estate market. Reach out now to learn more about how we can help.
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