With a strong economy, and more disposable income than a generation ago, many people are investing in a vacation home. Is it a good investment? That depends — on several things. What is your motive? Are you trying to save money on vacations? Are you looking at retiring there in a few years? Are you hoping the market will strengthen so you can re-sell? The answer to those questions will help you decide if a vacation home might be right for you.
Then, there’s a second set of questions. How much will you really be able to use the place? Do you think you might want to use it as a rental when you’re not there? Are you prepared for being an absentee landlord, with all the challenges that come with that?
To help you decide whether a second home might be a good investment for you, MSN has done a piece on owning a vacation home. It is insightfully written and will cause you to examine thoroughly your motives. If you have considered a second home, I’d say you owe it to yourself to click here and take the quiz. It might just save you a lot of grief and a lot of money.
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