Is it time for a vacation home, second home or rental home investment? If you can't find a buyer for your home why not consider buying a second home? That way you could wait until the market gets better to sell the home or just continue to rent the first home. There are advantages to a second home:
- If you rent the 2nd home you get writeoffs on your taxes.
- It's nice to have a second home to vac too.
- Change of scenery is always good.
- You may prolong the sale of first home until the market rebounds so that you can make more money on the sale when the market turns from a buyer's market to a seller's market.
- With the prices as low as they are right now you can buy more home for your dollar. Is it time to upgrade?
Just one of the possibilities in this incredible real estate market. There may be tax consequences to sell so it is always a good idea to check with your CPA. Call me if you have questions or need info on a second home loan.
Copyright 2009 Regina Flores