Monday, February 21, 2005

Survey: Many Won't Mind Flying To 2d Home

The latest survey of potential second-home owners by EscapeHomes.com indicates that distance from a primary residence is becoming less of a factor.

"Only a quarter of the people surveyed" in 2003 preferred to fly to their second home," the survey said, but "in 2004, there was an increase in comfort level, with more than a third willing to fly."


A majority -- 57 percent -- would still rather be within driving distance, said EscapeHomes.com, the San Francisco-based online marketplace, but potential buyers are becoming more flexible. The latest survey showed that 60 percent of respondents "plan to buy a second home more than 500 miles away" from the place they call home.

"The demographics of the second home buyer have shifted only slightly this year," the company reported. The number of married people looking for second homes increased by almost 10 percent to 83.3 percent and the number of people with incomes over $100,000 increased to 58.6 percent, a 26 percent jump over EscapeHomes.com's survey a year earlier.

Who are these potential buyers? Baby boomers, to be sure, but Gen X as well as seniors are actively looking for second homes, according to the survey.

See my Feb. 19 post for an analysis of other key findings in this survey.

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