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Primary, vacation, and investment buyers differ in the type of property they purchase:
- 80 percent of primary residence buyers typically buy a detached single family residence. Primary residences are popular among vacation home buyers, as 70 percent purchase a vacation home, however 21 percent of vacation buyers purchased a condo or a duplex for their getaway. Investment buyers are the most likely of all buyers to purchase a condo—29 percent did so.
- Nearly half of primary residence home buyers purchased a home in the suburbs, compared to one-third of investment buyers, and less than a quarter of vacation buyers. Vacation home buyers were more likely to purchase in a rural area and a resort area than other buyers. Investment buyers were more likely to purchase in a small town or urban areas than vacation buyers.
- Investment home buyers typically purchased a home 19 miles from their primary residence, while vacation home buyers are looking for an escape farther away at 375 miles.
- For more information on the Investment and Vacation Home Buyers Survey, click here.
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