Top 5 Things to Know When Buying a Second Home
Whether you are searching for a second home to vacation to or simply to become a landlord and rent your property out, there are certain things you will want to know when buying a second home. As an experienced real estate agent at the Lake of the Ozarks , I have sold many second homes. I, Judi Cloyd , am happy to give you 5 key things to know when buying a second home, in this blog. Top 5 Things to Know When Buying a Second Home 1. Know all the rules. It's important to realize that not all homes can be rented out. There are certain condo or homeowners associations that have particular rules for rentals, so do your research before you buy. 2. Calculate all your costs. The actual price of the home is not the only price to consider. Make sure you consider the utilities, HOA or condo fees, property taxes, insurance, etc. 3. Think realistically about your expectations of rental income. Renting out your vacation home comes with expenses too. You will need to pay for...