Buying a second home for investments or vacation home? Do and Don’ts.
Thinking about buying a second home? Whether you’re looking for an investment property, a getaway, or a place to eventually retire, plan to take these seven important steps. Real estate investing can take many forms. Buying your own home also counts as investing in real estate because you always have the option to sell it in a few years for a major financial profit due to real estate appreciation. In this time of moderate interest rates, some people are considering investing in rental property. If the biggest chunk of the monthly cost of ownership – the mortgage payment – can be frozen for 30 years while rents gradually increase, the resale value of the property escalates and all the while you enjoy the income and tax benefits, then you could have a win-win on your hands.