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Vacation/Second Homes |
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A second home, whether for vacation or investment, is a dream many
Americans are realizing every day. We can help you realize that dream too!
Read more about second homes.  |
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Vacation / Second Homes
Owning a second home (not a timeshare), whether it is for vacation purposes, investment purposes,
or both, has become very popular in the United States over the past decade.
One of the big attractions of owning a vacation home - apart, of course, from being able to enjoy
your own place in a resort area - is the ability to make money renting the place out. And then
there's the possibility of eventually selling at a profit.
According to statistics, Americans own about 6.6 million vacation homes, and the number of people
who say they've bought for investment reasons is growing.
Purchasing a vacation home can be a great investment as well as a great getaway. However there are
several issues to consider; Does the area also have a strong real estate market? Has it provided a
good return on investment historically? Are there opportunities to rent the property frequently?
Furthermore, the tax rule on vacation homes can be tricky when it comes to renting them out and
selling them. Particularly if you use the house some of the time and rent it out some of the time,
it's important to know and plan for the various tax implications.
None of these issues is complicated, however, good preparation will make a big difference in
achieving your goals. For assistance with purchasing a second home, whether you are familiar
or not with your desired location, it is recommended that you
select a local REALTOR specializing in investment and/or resort properties.
We recommend that you use the following TWO FREE services to find and compare REALTORS:
1. Find and compare REALTORS anywhere in the country for free.
2. Get free help finding your second home.
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REALTOR® Spotlight:
Theodore Theologis & Judy Shenefield - Long & Foster Real Estate.
Specializing in helping clients with their Northern Virginia real estate needs.
Click here for more info.
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