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Buy A Vacation Home

The mountains… The shore… A secluded island in the Caribbean… It doesn’t really matter where you go to relax. If you love a place enough to return year after year, it may make sense to buy a vacation home you can call your own. In many cases, you can put the equity you’ve earned in your primary residence to work to help make your vacation dream come true. Here are some considerations to keep in mind when you’re thinking about buying a vacation home:

  • Location: Is it close enough that you’ll be able to use the property often? You’ll pay a premium for a home in a vacation hot spot, but you may command a higher rental price if you want to offset some of your costs.

  • Repairs: If the house needs work, consider whether you’ll earn your investment back. Updates to kitchens, bathrooms, HVAC systems and roofs can all be costly.

  • Maintenance: Maintaining the property helps protect your investment. If you don’t live nearby, you’ll need to contract with someone to keep the house in good shape and looking lived-in.

  • Tax implications*: You can deduct mortgage interest on a second home—that is, if you use it at least 14 days each year or one day for every 10 days it’s rented.

* Consult your tax advisor.

We can help you determine how much equity you have available and how much vacation home you can afford.


What Our Customers Say

I wanted to take a quick moment and let you know about my experience with one of your associates, Ruth Falcone. My wife and I started out looking at options for a new home, how much we could afford, etc. In the span of less than 2 months, we went from a mere dream of moving into a bigger home, to the reality of making settlement this past Monday. Ruth could not have been more attentive, approachable, easy to work with and quite frankly made me feel as if I were the most important client in the world to her- She even provided us with assistance on an offer we wanted to make- and it was 1am.... I am not kidding. No matter what the question was, she was always there with the answer. Her dedication to her profession was what has enabled me to navigate this otherwise potentially stressful road to owning our dream house, and she made it easy. She is, by far, not only very professional, knowledgeable, and easy to work with, but clearly took a true ownership in seeing us through this process- I am a General Manager for Marriott International. I earn my living through making people happy, comfortable, making them feel at home when they are on the road, away from their true "home" , which is often stressful to travelers. I have to tell you- Ruth is a rare breed. All too often people get shuffled through processes and are just another file on a desk- What you have in Ruth Falcone is a true treasure & I felt the need to share my experience with you both- Have a great evening & thank you.

~ Kostas & Kristen