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Here’s the latest show, Second Homes. Among the topics, Keep it or Rent it?
It’s is a big question. Because what you decide will have a big impact on your money, your taxes, and your lifestyle, at that second home.
Now first of all, yes. Renting it out can bring you income. That can help pay the mortgage. Or, maybe the whole mortgage. So there you are, with your very own vacation home, and other people are paying the monthly mortgage. That’s pretty great.
Having a place at the beach, or in the mountains, or on a lake – or even a condo in the big city….anywhere people would come for a vacation….you’ll probably be able to rent it out, for good money. Talk to your REALTOR® about that – they’ll know the rental market, in the location you’re interested in.