Mortgage Blog
Vacation Property
May 25, 2023 | Posted by: Sharon Patton
Are You Thinking About Buying a Vacation Property?
Choosing to own a vacation property or second property can offer you many exceptional advantages, but are you ready for the commitment?
Let's weigh the Pros and Cons.
Pro: Real estate has historically risen in value, especially in areas with limited availability.
Con: A vacation home will very likely cost more than renting. You also must furnish and decorate it.
Pro: If you choose to rent, you can benefit from additional income
Con: Insurance is often harder to obtain for short-term rentals and check your lender policies.
Pro: Experience the benefits of retirement ahead of time and see if the reality lives up to the dream.
Con: Just as you do at home, you'll have to maintain your vacation property
Pro: Your vacation property allows you to take holidays at the drop of a hat, without the hassle of extra baggage.
Con: Since you have made the investment, you will feel obliged to visit it. Make sure you will love it as much as you do right now.
Let's chat and get you pre-approved today and make your vacation property dreams a reality!
Follow us on Facebook and Instagram for more mortgage tips and advice.
Looking forward to connecting with you soon.
Pro: If you choose to rent, you can benefit from additional income
Con: Insurance is often harder to obtain for short-term rentals and check your lender policies.
Pro: Experience the benefits of retirement ahead of time and see if the reality lives up to the dream.
Con: Just as you do at home, you'll have to maintain your vacation property
Pro: Your vacation property allows you to take holidays at the drop of a hat, without the hassle of extra baggage.
Con: Since you have made the investment, you will feel obliged to visit it. Make sure you will love it as much as you do right now.
Do the pros outweigh the cons? Are you ready to purchase a vacation property?
Let's chat and get you pre-approved today and make your vacation property dreams a reality!
Follow us on Facebook and Instagram for more mortgage tips and advice.
Looking forward to connecting with you soon.