The approach of spring means lots of things: warmer weather is on its way, plants and trees are getting closer to start budding, and, of course, vacations are soon to be booked. From spring break to Easter weekend, airline prices and the frequency of traffic jams are sure to be on the rise.
This is just one vacation trend that we know and can frequently depend on. Yet what are some other examples of vacation trends? Are more people vacationing in the United States? Where are people traveling to? And how could these trends impact my financial future?
Part of the reason this matters to everyone is that, with First Western Federal Savings Bank, you could invest in real estate with a non-recourse mortgage, which you can turn into a vacation rental property. By keeping up with the vacation trends that are happening around the country, you could be maximizing your investment potential. Take a look at some of the many vacation trends taking place, and reach out to the nation’s leading non-recourse loan lenders at First Western Federal Savings Bank today!
Travel Trends on the Rise
In more recent years, US News (among other organizations and news syndicates) have tracked some of the travel trends that are increasing in popularity. Let’s dive in:
People want to make a difference, and this is a sentiment that has fortunately not shifted throughout humanity. In the ages before the internet, it was a bit more challenging to stay truly connected to events happening outside of our own country — and even further back, outside of one’s own community. Now, however, we can be aware of everything and anything that we so choose, and the awareness of the many issues faced by people around the globe has been more than enough reason to inspire people to combine volunteering with travel.
There seems to be an innate part in humanity as a whole to experience thrills and adrenaline rushes. When roller coasters and bungee jumps can’t quite cut it anymore, extreme traveling and trips has continued to rise in popularity. Certain places, such as Antarctica, have experienced an increase in tourists over the years, which has caused some concern for scientists. US News explained in one article that many researchers are worried that this additional tourism can affect an otherwise pristine and sound location to study integral parts of the earth and atmosphere as a whole.
Some of these extreme trips involve going to places that might not be around for much longer. Vatican City is known to be sinking, the famous Tower of Pisa has continued to lean, the Great Barrier Reef has suffered immense destruction from non-environmentally friendly and unsustainable practices — people want to see these locations before it’s too late.
Trips to Transform
When we think of “vacation” we often think of a time to relax and escape from the stressors and busyness of day-to-day life. One of the newer trends in travel and vacation has involved people taking a trip in order to experience some sort of transformation. Whether going to a weight loss retreat, attending a weeks-long program in Bali to become a certified yoga instructor, or walking the Camino de Santiago in Spain, there’s continued to be an increase in people taking transformative trips. The goal is to not only learn more about the world and oneself through travel, but to partake in an experience which can heighten this aspiration.
Solo Female Travel
Hearing things like “a woman can’t travel there alone” or “it’s not safe for a woman to visit there” has been colloquial language for decades (if not centuries), but this trend has begun to change. In the past 20 years, there’s been a significant increase in the number of women who travel solo, or join group trips solo (versus traveling with a friend or partner). Outdoor gear outfitter REI reported to Condé Nast Traveler that solo female participation in backpacking trips has been up 60 percent since 2010. In the same article, other travel groups reported that upwards of 87 percent of their female travelers were single (or at the very least, traveling solo).
At one point in time, hotels reigned supreme in the vacation world. Booking a hotel was essentially synonymous with going on a trip, but as we’ve discussed in recent posts, hotels are beginning to lose their traction.
As VRMB suggests, vacation rentals (such as VRBO and Airbnb) are expected to surpass hotels in popularity and bookings by 2020. More people are opting for renting a home or apartment on their vacation, for a variety of reasons. Some feel that it’s more authentic to the location in which they stay — hotels are sometimes seen as “touristy.” For others, it feels homier, which can provide great comfort when one’s routine has been disrupted with travel. Regardless of the reason, this is a vacation trend to certainly watch for, and First Western Federal Savings Bank can help.
By using your self-directed IRA in tandem with a non-recourse mortgage, you could purchase a property to turn into a vacation rental. This is the perfect opportunity to build your financial portfolio, and add additional revenue to your life as a whole. With First Western Federal Savings Bank, you’ll work with non-recourse loan lenders that are nationwide leaders in the industry. Our non-recourse lenders are committed to helping you get the best support, guidance, and overall experience when working to get a non-recourse loan. Purchasing a house to turn into a vacation rental is incredibly lucrative, especially when considering the vacation trends going on at this time.
Our team of non-recourse lenders is standing by — contact us today to get started! We look forward to hearing from you.