Covers most financial aspects of owning non-primary properties, including second homes, vacation homes, rental properties, and strategizing for retirement property.Tax questions are covered in detail.Could have used more personal examples to give the book a more homey feeling.Also not a great resource for rural or undeveloped land purchases.
Overall, very useful for anyone considering purchasing investment property, including rental property or renting to tenants part time.
Lisa Merritt
www.lockboxdeals.com
Product Description
Thinking about owning a second home? Whether you want a relaxing getaway spot, a future retirement home, or just a place to rent out for profit, having a second home has always been a good investment. But how will you know where to look, how to invest, and what you need to avoid?
Second Homes For Dummies gives you the tools you need to handle the entire second-home buying process from concept to completion! This book covers the bases and the basics of buying a second home, presenting all information in a logical and modular format so you can find just what you need on the subjects that interest you. You'll find out everything you need to know to:
- Determine whether or not a second home is right for you
- Maximize your options for a second home
- Search for a home and find the money to pay for it
- Rent out your home for profit
- Renovate and maintain it to ensure its growing value
- Make your second home your primary home
- Look for and purchase a home in another country
Also provided are a list of the best places in the world to buy a home, ways to improve your home and make it first rate, and rules that you should talk about with your guests. With Second Homes For Dummies, you can make your dream of having a second home come true!
From the Back Cover
Deal with agents, tenants, mortgages, and more
Let your second home work for you now, and retire to it later
Dreaming of that perfect cottage in the mountains or that beachfront getaway? Can you afford it? How do you find one? Will it make money or cost money? What about upkeep and taxes? Relax! This handy book guides you through every step, from assessing your finances and deciding when to buy, to maintaining and maximizing your investment.
- Choose the right home
Decide whether to build
How to pay for it
Go it alone or use a pro
Find reliable tenants
Prepare for the retirement move
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