Field Guide to Vacation, Resort, and Second Homes (Updated March 2011)
While the U.S. economy is slowly pulling out of a recession, 2009 was a turbulent economic year. In 2009, 73 percent of residential property buyers reported that they purchased a home to use as their primary residence. For the remaining 27 percent of buyers, the motivation to purchase an investment property is influenced by a different set of factors. The purchase of a vacation home is largely a lifestyle choice, often with the expectation that the home will become the buyer's primary residence in the future. In 2009, one in ten home buyers purchased a vacation home
