In south Florida, second home ownership is up 77% this last year. Second homes make up 14.5% of ownership in Florida and 5.5% nationwide. Financing for second homes is scheduled to take a hit in rates starting April 1, 2022. If you are thinking of financing, you may want to make that purchase sooner than later. This applies to Fannie Mae and Freddie Mac loans and varies based on the down payment. See below! Reach out if you need a local lender to help you with your options.
The trend toward remote working has been amplified by the pandemic and companies being forced to rethink telecommuting. This has raised the possibility of working from anywhere. Why not live part of the year in a place with fabulous beaches, and the comfort of warm weather during cold months. Florida is the SUNSHINE state!
Another very viable option you may want to consider is 2nd home shared ownership. This is not a time share. This is real ownership with a maximum of 8 shares in a multi-million dollar south Florida home. Click on the picture above to learn more about shared ownership. These homes are available for financing with 30% down and without the 2nd home restrictions of Fannie Mae and Freddie Mac financing. Call/text me for availability as well as more pictures and information. Cheryl 754-207-4504.
Need help defining what you are looking for in a second home, click the Dream Home Checklist to get a fillable PDF.