5 Top Reasons to Purchase a Vacation Property or Second Home in Irvine CA
Does purchasing a second home or vacation property in Irvine, CA make sense for you?
Perhaps you have a child who has been accepted into U. C. Irvine–a world-class institution. Maybe he or she is pursuing an undergraduate degree at U. C. Irvine, or one of their sought after graduate schools, such as U. C. Irvine Law School or U.C. I. Medical School. If this is your scenario, wouldn’t it make sense to purchase a second home in Irvine?
1. You can save on dormitory and meal plans and build equity in your Irvine second home while your son or daughter is earning his/her college or graduate degree. You can also save on the cost of a car, gas, and parking expenses.
2. A convenient choice might be the village of the University Town Center. The neighborhoods within this village are situated across from and within walking distance of U. C. Irvine. This makes it very convenient for students to get to classes on time. Your son or daughter can walk, bike, or hop on one of many Anteater buses, therefore saving time and money of having to drive to campus which can be costly over the course of a school year.
3. You may be wanting to purchase a second home for your son or daughter who will be entering grade, middle, or high school. Irvine, CA is home to the very best public schools in the nation. The Irvine Unified School District always ranks high in A.P.I. scores, and many of the Irvine top-performing schools are given a rank of “10”–the very best possible score. Did you know that the University Town Center village is located within walking distance of nationally-ranked University High School and is also within the Turtle Rock elementary and Rancho San Joaquin neighborhood schools–all of which are ranked “10” by GreatSchools.com?
Long Term Investment
4. Purchasing a second home near a well-respected college or university such as U. C. Irvine can be a great long-term investment. This is a great time to buy, as mortgage interest rates are currently very low. You are able to recoup some if not all of the costs of your second home investment by having your son or daughter choose to have a roommate or roommates thereby saving on the long term costs of renting a dormitory or off-site apartment. He or she will be able to reside in your second home that will more than offset the cost of the purchase–all while you are accruing equity over the long term.
A Perfect Vacation Destination: Close to Beaches and Golf Courses
5. Irvine is a beautiful city in which to own a vacation property or second home, as Irvine is located within a few minutes of Newport Beach, Corona Del Mar, and Laguna Beach which have some of the most beautiful beaches and recreational activities in the world. If you love to golf, Irvine has several world-class golf courses nearby. The climate is one of the most temperate in the country.
If you choose a popular vacation or second home destination, such as Irvine, CA, these homes usually do a great job of retaining their value. You also get all of the tax benefits of home ownership and have the possibility of accruing rental income as well, if you choose to rent out your home when you are not using it, making a vacation home very convenient.
Irvine is a vacation spot you are sure to come back to time and time again, so why not have a spot to call your own? Your second home can also be great for family gatherings and reunions. You may want to consider fractional ownership where you go in on a vacation or second home with a few other couples and share it throughout the year. Robin and Eric Fenchel would be honored to help you begin the search for your second or vacation home. We know the Irvine community as we have years of combined experience in serving the local real estate needs of families and investors.