Buying a Vacation Home? 5 Questions to Consider First
October 13, 2021 Author: Tess Downing, MBA, CFP®, Complete View Financial
If you and your family would like to call your favorite travel destination "home," you may be considering purchasing a vacation property. This can be an exciting milestone, but there are a few things to consider first. As you work with your financial advisor and real estate agent, ask yourself these 5 questions to determine if you're ready.
1. How will I use the home?
2. Am I rushing this decision?
3. Have I calculated the costs?
4. Are there rules about renting?
5. What will I do in an emergency?