How About That Second Home You’ve Been Wanting?
June 25th, 2008 by Jeff Daley | no responses
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Now that tax reform has cleared the second-home roadway of tax inhibitions, you may find this an ideal time to buy a second property. Mortgage rates are continuing to make all kinds of home buying affordable.
The keys to buying a second home hardly differ from those applied to the purchase of your primary home: 
- Consider why you want to buy a second home. For frequent visits to a retreat that’s close to home? As a gathering place for family and friends? As a rent-free escape from everyday life? As the ultimate retirement haven?
- Evaluate the potential use of your second home. Will you be renting it out part of the time? If so, check out tax consequences, local zoning regulations and rental-management availability. Perhaps a condominium will best suit your needs.
- Choose a second home as carefully as your first, for location, construction, energy efficiency, and all the other things that make for a smart purchase.
- Examine your financing options. Will you go it alone in a purchase? Will you team up with friends or relatives to split your expenses and vacation times?
The Author: Jeff Daley
About: Jeff Daley, is a REALTOR® and owner/agent with Keller Williams Realty - Scottsdale and a member of the international Institute for Luxury Home Marketing where he took specialized training in the selling and marketing of upper-tier homes. He holds an MBA from George Washington University and rose through the ranks to senior management within Lucent Technologies before taking early retirement in 1999 and starting his second career in real estate. Jeff has won numerous awards in real estate, is a Certified Luxury Homes Marketing Specialist, a member of the Millionaire Guild, is published in national publications, and is an instructor for real estate. He and his wife and partner Jane, have their business and home in Scottsdale, Arizona where they specialize in Luxury Homes.
This entry was posted by Jeff Daley, on Wednesday, June 25th, 2008 at 1:40 pm and is filed under Featured, News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response on the right, or trackback from your own site.
