How to Buy a Second Home: From the Jersey Shore to Florida & Everything In Between

Owning a vacation home or second property is more achievable than many people think! Whether you're dreaming of weekends at the Jersey Shore, skiing in the Poconos, or escaping to Florida in the winter, buying a second home can be a smart investment—both financially and for your lifestyle.

For residents of the Greater Philadelphia area, certain locations make ideal second home destinations due to accessibility, affordability, and strong rental markets. But how do you actually make it happen?

In this guide, we’ll break down:
✔️ The best locations for a second home
✔️ How to afford a vacation home (without being a millionaire)
✔️ Financing options for second homes
✔️ How to rent it out & make money when you're not using it

Let’s get started!

Best Locations for a Second Home Near Philadelphia 🌍

Philadelphia is perfectly positioned for weekend getaways to beaches, mountains, and warm-weather destinations. These are the most popular second-home markets for Philly-area buyers.

1️⃣ Jersey Shore: Beach Town Living Close to Home 🏖️

If you love beach weekends and boardwalk fun, the Jersey Shore is a perfect second home location with diverse towns for every budget.

📍 Best Towns for a Second Home:
✔️ Cape May – Historic charm, high rental demand
✔️ Ocean City – Family-friendly, dry town, strong resale value
✔️ Sea Isle City – Great for rental income, lively nightlife
✔️ Long Beach Island (LBI) – Exclusive, luxury waterfront homes
✔️ Wildwood & North Wildwood – Affordable, fun, strong Airbnb market

💰 Average Second Home Price: $450,000 - $1.5M+
📊 Rental Potential: Peak summer rates range from $2,000-$10,000 per week!

🚗 Driving Distance from Philly: 1-2 hours

💡 Pro Tip: Homes closer to the beach cost more, but homes a few blocks inland often offer better value and still generate strong rental income.

2️⃣ Delaware Beaches: A Tax-Friendly Shore Escape 🏝️

Delaware offers lower property taxes, no sales tax, and beautiful beaches—a winning combo for second home buyers.

📍 Best Towns for a Second Home:
✔️ Rehoboth Beach – Walkable, trendy, high rental demand
✔️ Bethany Beach – Quiet, family-friendly
✔️ Dewey Beach – Lively scene, strong Airbnb market
✔️ Fenwick Island – Exclusive, less crowded

💰 Average Second Home Price: $500,000 - $1.5M+
📊 Rental Potential: $1,500-$6,000 per week in summer

🚗 Driving Distance from Philly: 2-2.5 hours

💡 Pro Tip: Delaware’s lower taxes make it an appealing option for buyers looking to avoid New Jersey’s higher costs.

3️⃣ The Poconos: A Year-Round Mountain Retreat 🏔️

If you love skiing, hiking, and cozy cabin vibes, the Poconos is an affordable second-home market with great rental potential year-round.

📍 Best Towns for a Second Home:
✔️ Lake Harmony – Lakeside homes, close to ski resorts
✔️ Tannersville – Near Camelback Mountain Resort
✔️ Stroudsburg – Great mix of affordability & amenities
✔️ Pocono Pines – Higher-end lakefront properties

💰 Average Second Home Price: $250,000 - $750,000
📊 Rental Potential: $250-$500 per night for Airbnb during ski and summer seasons

🚗 Driving Distance from Philly: 1.5-2 hours

💡 Pro Tip: The Poconos is one of the most affordable second-home markets, and short-term rentals are in high demand year-round.

4️⃣ Florida: Escape the Philly Winters ☀️

If you want a warm-weather getaway or a snowbird retreat, Florida is a top pick for second-home buyers. Plus, Florida has no state income tax!

📍 Best Towns for a Second Home:
✔️ Naples – High-end, luxury beachfront homes
✔️ Tampa/St. Pete – Affordable, growing rental market
✔️ Sarasota – Artsy, beautiful beaches, great resale value
✔️ Orlando – Strongest rental market (Disney tourism)

💰 Average Second Home Price: $350,000 - $1.5M+
📊 Rental Potential: Snowbirds + vacationers keep rentals busy year-round

✈️ Flight Time from Philly: 2-3 hours

Let me refer you to a great agent wherever you want to go in Florida!

💡 Pro Tip: Orlando properties near Disney have 80-90% occupancy for Airbnb!

How a Normal Person Can Afford a Second Home 💵

Buying a second home isn’t just for the wealthy—there are plenty of ways to make it work financially:

1️⃣ Use a Vacation Home Mortgage

✔️ Second home mortgages require 10-20% down (lower than investment properties).
✔️ Interest rates are slightly higher than primary homes, but still affordable.
✔️ Good credit and income stability help qualify.

💡 Pro Tip: Your second home can be financed similarly to your primary home!

2️⃣ Rent It Out When You’re Not Using It 🏡💰

✔️ Short-term rentals (Airbnb/VRBO) can cover your mortgage
✔️ Many Jersey Shore & Poconos owners make $20K-$50K per year renting out their home part-time
✔️ Hire a property manager to handle bookings, cleaning, and guest services

💡 Pro Tip: Some towns have rental restrictions—check local Short Term Rental rules before buying.

3️⃣ Use a HELOC or Cash-Out Refinance on Your Primary Home

🏡 If you have equity in your current home, you can:
✔️ Take out a Home Equity Line of Credit (HELOC)
✔️ Do a cash-out refinance to get funds for a second home
✔️ Use rental income from the new home to offset costs

💡 Pro Tip: If you’ve built up home equity in the past few years, this is a great way to fund a second home.

Is a Second Home Right for You? Let’s Find Out!

🏡 Whether you want a vacation home for your family or a profitable rental property, I can help you find the right property and navigate the financing options.

📅 Schedule a free consultation
📩 Or email me at Shaina@MontCoLiving.com