Vacation or Investment Home!
Should I buy a vacation home?
Today a vacation home may be purchased for investment purposes as well as enjoyment. And yes, there may be tax benefits, but check with your tax professional
Some people buy a vacation home with the idea of turning it into a permanent retirement home down the road, which puts them ahead on their payments. Another benefit is that the interest and property taxes are tax deductible, which helps to offset the cost of paying for a second home. A vacation home also can be depreciated if you live in it less than 14 days a year.
What do you think of a vacation home as an investment?You can buy a vacation home today for investment purposes as well as enjoyment. And yes , there may be tax benefits.
Some people buy a vacation home to use as a permanent retirement home later, which allows them to get ahead on their payments. Another benefit is that the interest and property taxes on a vacation home are tax-deductible.
Some real estate experts predict that vacation homes will appreciate in value due to rising demand from the aging Baby Boom generation. You also may be able to depreciate the property if you live in the house less than 14 days a year. Again, check with your tax professional.
You also need to consider whether you can afford to carry two mortgages, pay for the extra utilities and maintenance costs, and how this investment fits into your total personal finance picture.
To start searching for a vacation home in Southern Maryland: Vacation Homes
If you're a real estate buyer, or a real estate seller, although this particular post is not about real estate, you've still come to the right place. If you're interested in buying or selling real estate in the cities of Solomon's, Lusby, California, Lexington Park, Leonardtown, Hollywood, Saint Leonard, Cove Point or any other city Calvert, Charles or St. Mary's Counties , I've sold real estate in most every city in the vicinity, So if you have any questions about the area, please feel free to ask.
I write many posts about things to do and places you can visit in Calvert, St. Mary's and Charles Counties . Sit back and relax and browse my blogs.
When you're ready to buy or sell contact
Monique Hailer - OBrien Realty
Web: Southern Maryland Waterfront Solomons Island Waterfront
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