December 12th, 2019
Benefits of Second Home / Vacation Homeownership
A second home is defined as a one-unit property that’s located within a reasonable distance from your primary residence. It can be a vacation home that you occupy for some portion of the year or by someone you allow to occupy it.
Having a place to stay near the beach, the lake, the mountains or your favorite resort area offers many potential rewards. If your looking to buy a vacation home, Jonathan Dannenfelser can assist and help you understand the financial and personal benefits that go along with the purchase, including:
- Rental Opportunity- If your home is in a popular vacation spot, you may be able to rent it and earn additional income when you’re not using it.
- Ongoing cash flow and income – If you choose to rent your vacation home, it could provide ongoing income to offset your expenses, and may provide tax benefits in the form of depreciation expense. In line with this, it is very important to consult your tax advisor regarding deductibility of your depreciation expense.
- Potential tax perks- Home and mortgage equity interest and property taxes can offer you with the opportunity for tax advantages. Your tax advisor will greatly help you to completely understand the deductibility of interest.
- Potential Property Appreciation- It is a fact a vacation home can be an excellent long term asset since it usually increases in value.
If your looking for an expert when buying your second home or vacation home, you don’t need to look any further, Jonathan Dannenfelser will assist and help to come up with the best possible results in a short period of time. Jonathan Dannenfelser can be your guide and key to have a superior understanding about the amazing benefits of second home or vacation homeownership.
Need expert advice on benefits of Vacation Homeownership?
Call Jonathan at (818) 822.3853 or engage in a Live Chat online. Complete our Inquiry Form and receive a quick pre-approval!