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By Nick Pappas - 7 Nov 13

Wanting More From Your Home…Consider Buying A Second Home?

Your home and finances - what makes sense?

Wanting More From Your Home…Consider Buying A Second Home?

Buying A Second Home?

Is your home not giving you the lifestyle you need? Thinking about buying a second home? Now could be a great time to do so, but there are several things to keep in mind before taking the leap and purchasing a second home.

Does buying a second home make sense financially? Keep in mind not only the mortgage payments, but also upkeep and potentially paying a property manager if you plan to rent out your home. Think about the location and type of second home you want to buy. A town home or condominium may require less upkeep, but you do pay extra fees with those types of properties.

Be sure to research the tax implications of owning a second home, both in terms of property taxes and income taxes. Consider how you will be paying for your home. The more money you put down, the better. Perhaps a family member can help with some of the down payment to save on interest. Another popular trend is to go in on a second home with another couple. This could be a good idea if you are only interested in using your home for a getaway for only part of the year. Buying a second home? It’s a big decision, so be sure to thoughtfully consider your options before purchasing that second home.

Nick T Pappas

If you need a knowledgeable real estate professional in Madison or Huntsville Alabama area, why don’t you let me Google that for you! I also know outstanding agents in all states and Canada should you need help relocating to a new area.

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  • Nick T Pappas
  • @ HOMES REALTY GROUP
  • 470 Providence Main St., Suite 202
  • Huntsville, AL 35806
  • DRE# 88377-0
DISCLAIMER:

Listing information deemed reliable but not guaranteed

Equal Housing Opportunity.