CHARLOTTE, N.C., Aug. 5, 2019 /PRNewswire/ -- Those fortunate
enough to purchase a vacation home intend to make good use of their
property, although LendingTree's latest survey of secondary
homeowners finds that many haven't been able to do so.
LendingTree commissioned a survey of consumers who own or have
owned an additional home outside of their primary residence to
identify trends and gather sentiments about their decision to own
multiple properties.
Key findings
- When it comes to additional homes, investment properties are
most popular. Investment properties account for 39% of secondary
homes, followed by vacation homes (36%) and rental properties
(26%).
- About 1 in 2 vacation homeowners (49%) feel guilty about not
using their home as much as they intended and more than a third
(37%) only use their vacation home once a year or less.
- More than half (56%) of vacation homeowners bought their home
with the intent to rent it out
- Just under a third (30%) of those who are current or former
owners of an additional home aside from their primary residence —
whether a vacation, investment or rental property— rent it out
year-round, while about 4 in 10 (41%) don't rent out their
additional home at all.
- Of those who decided to sell their additional home, 31% said
they did so primarily because they didn't use it often.
- More than a third (36%) of vacation homeowners report they
vacationed in the area for one to three years before buying their
home.
To view the full report, visit:
https://www.lendingtree.com/home/mortgage/nearly-half-of-vacation-homeowners-feel-guilty-about-low-usage/
About LendingTree
LendingTree (NASDAQ: TREE) is the
nation's leading online marketplace that connects consumers with
the choices they need to be confident in their financial decisions.
LendingTree empowers consumers to shop for financial services the
same way they would shop for airline tickets or hotel stays,
comparing multiple offers from a nationwide network of over 500
partners in one simple search, and can choose the option that best
fits their financial needs. Services include mortgage loans,
mortgage refinances, auto loans, personal loans, business loans,
student refinances, credit cards and more. Through the My
LendingTree platform, consumers receive free credit scores, credit
monitoring and recommendations to improve credit health. My
LendingTree proactively compares consumers' credit accounts against
offers on our network, and notifies consumers when there is an
opportunity to save money. In short, LendingTree's purpose is to
help simplify financial decisions for life's meaningful moments
through choice, education and support. LendingTree, LLC is a
subsidiary of LendingTree, Inc. For more information, go to
www.lendingtree.com, dial 800-555-TREE, like our Facebook page
and/or follow us on Twitter @LendingTree.
MEDIA CONTACT:
megan.greuling@lendingtree.com
704-943-8208
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SOURCE LendingTree