Thursday, June 28, 2012

A: Like any investment, it can be risky. Location and current market conditions are extremely important when deciding whether to buy.

Other things to consider:
• Will you be able to afford repairs, maintenance, insurance, and utilities?
• What about fees to pay agents who rent the property for you?
• If you live several miles away from your vacation home, who will clean up between tenants and take an inventory of household items once the tenants leave?
• What if you are unable to rent your second home? Can your pocketbook withstand the strain of paying the mortgage?

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