Thinking about a vacation property?
LET’S WEIGH THE PROS AND CONS.
Choosing to own a vacation property or second property can offer you many exceptional advantages, but are your ready for the commitment?
PROS
✓ GREAT INVESTMENT
Real estate has historically risen in value, especially
in areas with limited availability.
✓ RENTAL INCOME
If you choose to rent, you can benefit from
additional income.
✓ RETIREMENT TEST DRIVE
Experience the benefits of retirement ahead of time
& see if the reality lives up to the dream.
✓ CONVENIENCE
Your vacation property allows you to take holidays at
the drop of a hat, without the hassle of that extra baggage.
CONS
✘ UPFRONT FEES
A vacation home will very likely cost more than renting.
You also have to furnish and decorate.
✘ MORTGAGE COSTS
Downpayments are often greater (30-35%) as are the
interest rates.
✘ UPKEEP EXPENSES
Just as you do at home, you’ll have to maintain your
vacation property.
✘ JUSTIFICATION
Since you have made the investment you will feel obliged
to visit it. Make sure you’ll love it as much as you do right now.
NEED SOME ADVICE ON YOUR DECISION? CONTACT RITA TODAY!
