Questions To Ask Before Buying A Vacation Home (Aug 3, 2017)

When you’re on vacation, the allure of securing a place in paradise year-round can be intoxicating. How can you bottle that vacation bliss? Buying a second home is the most commonly contemplated answer.

Vacation home ownership offers distinct perks. However, it also entails a significant investment of money, time, and other resources. Like any major financial decision, it’s worthy of careful consideration. Ask yourself the following questions before you purchase a vacation home.

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Vacation Homes (Jun 24, 2013)

A rustic cabin or a seaside cottage? Buying a second/vacation home can be an alluring prospect. Before you decide to purchase one, though, you should consider a number of issues. These include the costs associated with owning a second/vacation home, the attributes of the home, its rental potential, and the income tax treatment. Even if you rent it out or deduct part of the costs of ownership from your taxes, a second/vacation home is primarily a luxury, not an investment. You should buy one to add value to your life instead of to your net worth.

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