Investment homes on 30A impacted by COVID-19

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WALTON COUNTY Fla. (WMBB) — Domestic travel has risen amidst the pandemic, and many are interested in investing in vacation homes in the 30A area.

During COVID-19, many are investing in vacation homes right here in our backyard in the Panhandle.

A life-long resident of the 30A area and Scenic Sotheby’s real estate agent, Jonathan Spears, said there had been a surge in secondary home investments this year.

“We have sold as much real estate in 2020 in the first six months as we did in all 2019,” Spears said. “And 2019 was a record year. “

Spears said many are taking advantage of these historically low investment rates.

“Not just with folks coming here wanting to live their life here, but also investing their money in something that will start to produce a cash flow for them,” said Spears.

With travel being restricted, our local economy has benefited from more traveling in vehicles to the 30A areas.

Recent vacation home investor, Jason Sapp said although he had lost rental income during spring break months, he thinks in the long-run the pandemic will affect how people travel.

“An area like the Panhandle,” said Sapp. “We feel it will increase in value.”

And recent secondary home buyer Lisa Amoroso agrees.

“Longterm, it is a great investment,” said Amoroso.

Just this year Amoroso acquired her second rental property.

“Because the interest rates are so low, depending on if you go with a personal investment property,” said Amoroso.

Spears said if you are interested in buying a vacation home during this time, talk with local real estate advisors as they have the best advice for you.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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