Building wealth and taking vacations at the same time… who doesn’t want that? One of the best ways to have both a personal and financial reward is to invest in real estate.
Done right, you can build wealth, diversify your income and plan for retirement!
Vacation homes within just a few hours of your primary home can be ideal. The chances you block out time to visit often increases, the commute is easy and if you need to make repairs you are close by to oversee the work.
One of the best perks about vacation homes, is that you don’t have to worry about scheduling hassles & expensive rentals. Plus, all the comforts of Home are there – because it is literally, Your Home.
Make sure you keep the following things in mind if you are in the market for a Vacation Home
- Location, Location, Location – Choose wisely – make sure you really want to vacation there on a regular basis and your family will join you
- Hire Local – using experts familiar with the area, the property and the amenities are key to a successful investment
- Be Realistic and Stick to a Budget – you don’t want to get in over your head – but consider this a long-term investment and the benefits of life long family memories
- Short Term Rental Opportunities** – if this is something you want to capitalize on, ensure you are buying a home in a popular vacation spot to ensure limited vacancy
While many people consider a Vacation Home a luxury item – it can actually be just as lucrative, if not more as traditional investments in retirement funds, stocks, bonds and mutual funds.
Have you heard the term – Healthy, Wealthy & Wise? Consider investing in a vacation home to accomplish all three!
**Keep in mind if you chose to rent the property, there are some IRS rules & consequences to be aware of, such as rental income reporting and allowable deductions.
Cheryl L. Braunschweiger
Certified Mortgage Planning Specialist®
Ninja| V.P.| Branch Manager |Nova Home Loans
Office: 720.279.5939 | Cell: 720.480.7792
NMLS 266695|NOVA® NMLS 3087
Equal Housing Opportunity
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