Buy Your Vacation Home NOW!

If you already own a house, you probably have a pretty good idea about the rights, responsibilities, and financial obligations of homeownership. And if your experience as a homeowner has been a generally positive one, you might have toyed with the idea of buying a second piece of property.

Why should you consider buying a second home? Four reasons spring to mind: finances, fun, family and the future.

Oh, and there's one other reason to purchase a second home sooner rather than later: With the soft real estate market nationwide, right now you can get a real bargain on a home!

  • August 02 2010 - Nags Head
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Answers (2)

Profile picture for Carol Neu
Here's an interesting consideration.  The tax deduction for purchase money interest payments is the same one you get for a traditional IRA or 401K contribution, however it is not limited.  At the end of a career, which do you think will give you and your family more good times and memories?
  • August 03 2010
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Mortgage rates for 2nd homes are in the 4's!  Now is a great time to find a vacation home to share with your children and grandchildren! On conforming loan amounts of $417,000 or less, minimum downpayment is 10% with a 720 credit score. If score is below 720, would need 20% down.
  • August 04 2010
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