Like any investment, it can be risky. Location and current market conditions are extremely important when deciding whether to buy. Other things to consider:
– Will you be able to afford repairs, maintenance, insurance, and utilities?
– What about fees to pay agents who rent the property for you?
– If you live several miles away from your vacation home, who will clean up between tenants and take an inventory of household items once the tenants leave?
– What if you are unable to rent your second home? Can your pocketbook withstand the strain of paying the mortgage?
Posted in: FAQs for Buyers