Top 5 Reasons to Buy a Second Home

By: Craig Gleason

Owning more than one home can be part of a sound financial strategy, a long term plan for retirement and can provide you with lifestyle options that are priceless. Here are the top five reasons people like you buy a second home:

1. Sound Investment:
Sure, the market bumps along: up a little, down a little, but in the long run it always appreciates. As cities become more and more crowded, beautiful homes in bucolic settings will become increasingly rare - and valuable.

2. Retirement
A second home purchase can be part of a sound retirement strategy. When home buyers purchase a home in an idyllic spot of their choice, they can utilize the property for their own pleasure during their working lives or as an additional income generator. When it comes time to retire, they have the option to kick off their shoes and permanently relocate to their second home or even sell it and upgrade to another home in the same town.

3. Vacation Rental
Pick a home you love and others will love it too. Mountain homes, golf homes, waterfront, deep forest, wildlife retreat...these are the places we all need to escape to when too many days of crowded subways and dusty traffic jams are getting us down. When you own a home in an out-of-the-way spot, you open up the possiblility of renting it out to others and paying down the mortgage at the same time.

4. Fun Times
It's only natural...perhaps the best way to use a second property is recreationally. If you love to ski, a home in the mountains can be just the thing. Miss the fresh air? Less cars and more trees are just the thing. Even when you love where you are, being able to get away for a while makes it so much sweeter.

5. Live in your Vacation Home and Rent out your City Home!
Just looking for change? Why not swap your life in the city for a life by the lake? Technology has made it possible for many of us to work wherever we want, why not take advantage of it and live where you want? A move to a less populated area doesn't have to be costly and it doesn't have to be forever. Instead of renting out your vacation home and living in the city, you can do the reverse. One of the main benefits of this strategy is that urban homes are easier to rent out no matter what time of year it is. That, and you can feel like you're on vacation everyday.

Where to, Brave Traveler?

How far are you willing to go? America is full of beautiful undiscovered towns and vacation get aways. Forget about expensive florida beaches and the like. Americans these days are looking for wilderness...and bargains. There are plenty of US towns you may never have considered that offer lots of get up and go.

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