Margate City, NJ -- (SBWIRE) -- 06/03/2020 -- Everyone has their own reason for loving the shore, some people love the shopping and restaurants, others can't get enough of the boardwalk, and some just like to relax in the sun and listen to the waves. Ownership of a vacation property offers better access to all of these great activities and more, but there are also some lesser-known financial and personal benefits that come with owning a second home. There are house listings in the Jersey Shore to fit any budget or wish list. For all those who may be interested, Mark Arbeit and Co. explains the advantages of owning a vacation home.
One major benefit of owning property in a desirable area like the Jersey Shore is the potential for rental income. Cost is one of the main factors that deter people from buying extra property, but shore homes can pay for themselves and even make their owners money if they're rented out for part of the year. By renting a shore house to vacationers for part or all of the busy season, the homeowner can live there at essentially no cost for the remainder of the year. Weekly rental rates in popular shore neighborhoods are generally as much as or more than monthly mortgage payments for the same areas. By taking advantage of this, property owners can make money back on their purchase and still enjoy it for a large portion of the year.
Additionally, acquiring a second home comes with it's own tax deductions that can offset the cost over time. Everyone loves getting money back in April, and owning a vacation property can actually aid in the quest to pay lower taxes. The interest on mortgage payments and property taxes are fully deductible if the home is rented for two weeks or less during the course of the year.
A vacation property can also be a tremendous asset for retirees. Besides the shore being an excellent place to relax and enjoy retirement, the rental income a second home provides can ensure financial security well into retirement. Even if it's not urgently needed, having the potential income source readily available is an excellent safety net in a financially unstable world.
Anyone who is interested in learning more about vacation property on the Jersey Shore and the full range of Jersey Shore real estate listings is encouraged to visit Mark Arbeit and Co. today!
About Mark Arbeit and Co:
As the most distinguished real estate company in the Jersey Shore with more than 13 years of experience in the local market, Mark Arbeit and Co simply cares more than other local real estate agencies. Our company's realtors aren't just salespeople who match buyers and sellers — we take it a step further by providing guidance every step of the way, from search to sale. That includes finding affordable deals with honest contractors, preparing the property for showings, marketing your listing, and so much more. We are available to consult with you 24 hours a day, 7 days a week — so call today to take the next step towards securing your vacation home down the shore!