However, the homeowner still has to do some maintenance, pay extra taxes and make a few minor repairs even if the property is not occupied. Having two homes to maintain is perhaps one of the main reasons why some would rather find hotels or rent a vacation property in popular areas like Laguna California Homes For Sale during the holidays than buy a second home.
However, some second home owners have learned to turn their second homes as a rental investment. If you are planning to spend the holidays on the other side of the world, why not allow some people to rent on your second home. Not only that you get some people to maintain the place for free while you are away, but you get to earn some even when you are away. Another advantage of renting your second Leesburg VA Homes is that the home pays for its own maintenance, taxes, and repairs.
The dark side of owning second homes is that the homeowner has to pay for extra taxes or have a full coverage insurance. Moreover, you may encounter renters that trash or destroy the place and this can be very frustrating.
If the renting is on a regular basis, second homes can be a steady source of income. The income from your second home will help pay for its own expenses, as well as add to your personal income. If you are interested in turning your second home as a rental vacation property, there are a lot of agencies that can get tourists for you and manage the rental process for you.
When all is said and done, second homes are worth the investment, but you have to know your financial situation first before you begin with your new rental vacation investment.
- Open House Report: Weekend Open House Report: Big Bucks Edition (sf.curbed.com)
- San Francisco Elections – November 2011 – Here we go! (sanfranciscofyi.blogspot.com)
- Income Real Estate Can Be One Of The Best Investments (sellingrealestatesf.com)
- Six Mistakes Housing Investors Make (online.wsj.com)
- More Vacation Homes Within Reach (online.wsj.com)