Maybe this is the time to consider investing in a second home. Rates are still at historic lows and home values are still recovering from the Great Recession.
Top Second Home Property Buying Tips:
Here are a few things you should consider:
Does your family like the property? When you invite family to visit are there enough rooms and bathrooms?
What will the resale value be? Do you have to take care of the property when you’re not there or is it a condo and its maintained for you?
How long does it take to get there from your primary home? If it takes a long time get there, you may not visit it as often as you may expect. Between Two to three hours of travel time is reasonable, anything more may be a hassle.
What is the area like year-round, especially during off-season?
What are the maintenance costs of the property?
With the smart planning and a loan from Cranbrook Loans, your dream of owning a vacation property can be a reality.
Top Reasons For Buying A Second Home
Plan for retirement
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