With summer in full swing, the idea of owning a vacation home feels especially appealing. Whether you're picturing a cozy beach cottage, a desert escape, or a mountain retreat, having a go-to getaway spot sounds like a dream — but is it the right move for you?
If you’re based in Long Beach, CA and find yourself regularly traveling to the same destination, buying a second home could be a smart lifestyle and financial decision. But before you take the plunge, here’s what to consider.
Pros of Owning a Vacation Home
A Familiar Escape
You’ll always have a comfortable, familiar place to unwind — no packing stress, no surprises.
Potential Rental Income
When you’re not using the home, you may be able to rent it out and generate income. This can offset some of your ownership costs (just be sure to check local short-term rental regulations).
Long-Term Appreciation
Desirable vacation markets often see strong appreciation over time, allowing you to build equity.
Retirement Possibilities
Today’s second home could be tomorrow’s retirement haven.
Family Memories
A vacation home can become the backdrop for generations of shared experiences and traditions.
Consider the Cons
Ongoing Expenses
Think mortgage, higher property taxes, insurance, maintenance, utilities, and possibly HOA fees. These add up fast — use a vacation home cost calculator to estimate what you’re really signing up for.
Financing Can Be Tougher
Second home loans often come with stricter requirements: higher credit scores, larger down payments (typically 10–20%), and higher interest rates.
Property Management
If the home is far away, managing repairs or turnovers (especially for rentals) can be challenging unless you hire help.
Limited Use
Sometimes life gets busy — and that vacation home sits empty more than you’d like.
Market Fluctuations
Vacation markets can be more sensitive to economic shifts, so appreciation isn’t guaranteed.
Financing: Second Home vs. Primary Residence
Here’s how second home financing differs:
Down Payment: Typically 10–20% vs. as little as 3–5% for a primary home
Interest Rates: Slightly higher for second homes
Debt-to-Income Ratio: Lenders take a more conservative approach
Rental Plans: If you plan to rent it often, the lender may classify it as an investment property, which carries stricter terms
Does a Vacation Home Make Sense for You?
It might be the right move if you:
Consistently visit the same destination
Have solid emergency savings and a retirement plan
Can afford the home without relying on rental income
Are ready to manage (or outsource) property upkeep
If you’re still working on financial security or prefer exploring new places year after year, renting may be the better route for now.
Top Vacation Home Spots for Long Beach Residents
Looking for inspiration? These popular destinations are favorites among Southern California locals:
Within Driving Distance
Palm Springs / Joshua Tree – Mid-century modern design, poolside lounging, desert hiking, and winter warmth. Visit Greater Palm Springs »
Big Bear Lake – Four seasons of outdoor fun: skiing, snowboarding, hiking, and lake days. Explore Big Bear »
Santa Barbara / Ojai – Laid-back charm, wine tasting, art, and coastal beauty. Discover Ojai »
Idyllwild – Quiet mountain vibes, perfect for artists and hikers alike. Learn more about Idyllwild »
San Diego Coast (Encinitas, Carlsbad, La Jolla) – Surf, sand, and relaxed coastal living. San Diego Tourism Authority »
A Plane or Train Away
Hawaii (Maui, Kauai, Big Island) – Island life, lush beauty, and investment potential. Go Hawaii »
Lake Tahoe – Year-round outdoor playground with a booming vacation rental market. Tahoe South »
Sedona, Arizona – Red rocks, spiritual retreats, and a hot short-term rental scene. Visit Sedona »
Central Coast (Paso Robles, Cambria, San Luis Obispo) – Wine country meets the sea. Visit SLO CAL »
Pacific Northwest (Portland, Bend, Seattle area) – Forests, rivers, and vibrant culture. Travel Oregon », Visit Seattle »
Let’s Talk About Your Goals
Whether you’re dreaming of desert sunsets or ocean breezes, buying a vacation home is a big decision — and we’re here to help you make it with confidence.
Have questions about financing, destinations, or next steps? Let’s chat. We can help you evaluate your goals, crunch the numbers, and connect you with trusted agents in your dream location.
Call us at 562.896.2456 or fill out the form below to start the conversation.
