There are many things to consider with a second home purchase, including if you can afford two mortgages.
Purchasing an investment property in WA, OR, ID, or CO is one of the most important decisions that you'll ever be a part of. As such, it's a necessity to make your decisions with only the most careful consideration. In this article, we'll offer some tips to help protect yourself from a bad investment.
While owning a second home or investment property represents an additional expense, each can also deliver financial benefit, including sometimes substantial tax savings. Those pondering a purchase should remember that mortgage approval standards differ from those on a primary residence.
Investing in real estate is a great way for someone to diversify his or her assets; however, there is a common hurdle that almost all real estate investors face. This comes in the form of a down payment.
Real estate, which is a rental property, has the unique characteristic under the tax code of being able to depreciate it and pretend the asset is going down in value, while, if you are a clever investor, you will acquire property that actually increases in value. Additionally, there are other tax advantages for owning a rental property that can help shelter income.