Vacation homes often provide families with the best of both worlds: live where they work and have the option to visit their dream destination whenever they please. Many families are finding a way to do both.
Turning a vacation home into a full-time residence has become a recent trend in real estate, so much so the President and CEO of Engel and Völkers America, Anthony Hitt, wrote in a recent Forbes article that he considered it an emerging market trend, especially in coastal cities around the southeastern U.S.
A Wall Street Journal story attributed the trend to the fact that people want more family time and less work stress. Even families without children are making the permanent move to their vacation home to create a stress free and enjoyable experience.
Paul Benson from Engel and Völkers told the Wall Street Journal that professionals are moving out of popular cities to areas like his residence in Park City to “slow their lifestyle down enough to have more family time.”
He described it as the “save-the-family effect.”
Families may even be moving to traditional vacation areas to raise their children. Benson explained parents are figuring out ways to work remotely or considering opening a local office to continue their careers, while still being more active and involved in their children’s lives.