Buying your very first home is an adventure unlike any other. It can be stressful, draining, and tedious, yet still thrilling and rewarding. For many buyers, however, the home buying process is such a nuisance that they try to avoid going through it again whenever possible. You might be surprised to hear that for most people, owning a second home can be a really great idea, despite the frustrations of a sale. Here are three reasons why it might be a good idea for you to start looking for a second home.

Find an Escape

The first reason why owning a second home can be a good idea for you is if you need to find an escape, a second home can help you. Life is stressful and challenging, and 2022 has already shown us that the punches are not going to slow down. Having a place where you can unwind and let go of the stress that life piles on your shoulders. For many people, a second home somewhere relaxing—like a beach town, a lake house, a home in the woods, or just a home somewhere other than where you live can be the perfect escape.

Use it as a Short-Term Rental

Another reason why owning a second home can be a really good idea for you is to use it as a short-term rental. Rental properties are an important part of almost every millionaire’s portfolio, and for good reason. Rentals are a good investment if you want reliable cash flow. If you are interested in owning a second home in a good vacation spot, going with a short-term rental setup rather than a long-term rental can be more lucrative. Consider using an online service to offer you a second home as a short-term rental during some of the year to increase your personal cash flow.

Grow Your Wealth Easier

The final reason why owning a second home can be a good idea is that real estate is one of the smartest ways to grow your wealth. If you have the money for a second home sitting in a savings account somewhere, it is earning well less than one percent in interest. But if you were to use that money to purchase a second home, the value of that property could increase by as much as twenty percent year after year.

Owning a second home can be a scary thought for many homeowners. But the reality is that it might be the best decision you ever make. Consider these three benefits of a second home and start looking further into if it might be right for you!

Read this next: How to Spark More Interest in Your Home on the Market