Experts identify typical holiday home buyer
The National Association of Realtors has compiled a profile of the typical holiday home buyer in the US.
According to the organisation, a person who purchases a foreign property for lifestyle purposes is most likely to be in their mid-50s and on a salary of £35,000 a year.
People who choose to buy abroad as an investment were found to be slightly younger on average, with a household income of £42,400 per annum.
Although more than 8 in 10 holiday home buyers said they plan to use their property as a getaway for the family, many are working it into their plans more heavily.
Figures showed that 30 per cent of people intend to use it as their main residence at some point in the future.
This contrasts sharply with investment buyers, more than half of who do not spend time in their property themselves.
Earlier this month, Tony Booth of Property Secrets said investors need to know what they hope to achieve if they are purchasing a residence in another country.
Prospective buyers were told that investing on a whim or a hunch would be a mistake, as they would have only very vague investment objectives.
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