Vacation property is a niche in the real estate market dealing with residences used for holiday vacations (e.g. beach house). In the United Kingdom this type of property is usually termed a holiday home, in Australia, a holiday house/home, or weekender, in New Zealand, a bach or crib. In the United States the most common designation is second home.
A second home or vacation home can be a home owner's asset as renting it could provide additional income. Many vacationers are opting for a single family residence that they can rent on a nightly or weekly basis. In many cases the savings for them are significant compared to hotels or vacation packages. For owners it can be as rewarding as paying the mortgage. As people begin to realize this trend vacation type properties are becoming popular not only for existing homes but also for building one.
Read more about Vacation Property: Effect of Technology, Types of Vacation Property
Famous quotes containing the words vacation and/or property:
“Using a camera appeases the anxiety which the work-driven feel about not working when they are on vacation and supposed to be having fun. They have something to do that is like a friendly imitation of work: they can take pictures.”
—Susan Sontag (b. 1933)
“Children are potentially free and their life directly embodies nothing save potential freedom. Consequently they are not things and cannot be the property either of their parents or others.”
—Georg Wilhelm Friedrich Hegel (1770–1831)