Do you ever find yourself considering the possibility of purchasing a second home? Many consumers purchase second homes to use as vacation homes, rental properties, for tax purposes, or as a future retirement home according to the National Association of Realtors. In fact, the report revealed that second homes, which include vacation homes and rental investment properties, accounted for 36 percent of all homes sold during the reporting period.
Pros for buying a second home:
- A second home can grow in value over the years, making it a wise investment
- Low interest rates. Increases the affordability by lowering the monthly repayment
- In some cases the interest & taxes are deductible for a second home, an added tax benefit
As with any major purchase, it’s important to do your homework before you buy. Then, while you’re reaping the rewards of owning a second home, you’ll have the peace of mind that you’ve made a smart investment into your future!
The Woodlands Real Estate 