Tuesday, June 14, 2022 / by Adam Donaldson-Moxley
Should you move to a vacation town?
Since the start of the pandemic, demand for homes to buy in vacation towns has skyrocketed. And with more remote work options and greater emphasis on outdoor living, it’s no surprise that recreation destinations from Tahoe to Tempe are among the most popular on Zillow.
As internet connectivity improves, remote and hybrid work options multiply, and the stress of faster-paced living ebbs and flows, it can be tempting to think about picking up and moving. But if you’re lucky enough to find yourself contemplating such a change, what’s the reality of buying a home in a vacation area and ultimately living in a tourist town? Dreaming about a move like this can feel like it’s all upside, but what if you aim to give it some serious thought?
How do you feel about crowds?
Vacation towns are vacation towns for a reason: They’ve got fun things to do in and around them. So when they’re in-season, they’re likely to be crowded. Ready to see the town’s one grocery store wiped out when there’s no delivery service to fall back on? If you’re working a typical nine-to-five remotely, you may find yourself stuck on the slopes during the weekend, or competing with the throngs for a spot to throw out a towel on the beach.
On the flip side, maybe those crowds represent a business opportunity that you and/or your partner would prefer to your current line of work. Small business web development firm? Tour guide for city slickers? Living in a tourist town might be just what you’re looking for.
Can you afford a potential bump in property taxes that may come with living in a vacation destination?
Unsurprisingly, property taxes are dictated by where the property is located and how much assessors think it’s worth — and they can often be higher when you’re living in a resort community or vacation destination. But other variables complicate the matter. Cities, counties, and school districts all carry the power to levy taxes against properties within their boundaries. Still the high property values in tourist destinations don’t always translate into higher property taxes. A little research will help you make a more informed decision.
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