Absolute Realty Group, Inc.

195 Wekiva Springs Rd., #102
Longwood, FL 32779
Phone: (407) 673-1400
Fax : (407) 673-1401

Should I buy a vacation home?


Today a vacation home may be purchased for investment purposes as well as enjoyment. And yes, there may be tax benefits, but check with your tax professional.

Some people buy a vacation home with the idea of turning it into a permanent retirement home down the road, which puts them ahead on their payments. Another benefit is that the interest and property taxes are tax deductible, which helps to offset the cost of paying for a second home. A vacation home also can be depreciated if you live in it less than 14 days a year.

Resources:
* “Real Estate Investing From A to Z,” William Pivar, Probus Publishing, Chicago; 1993.
* “The Ultimate Language of Real Estate,” John Reilly, Dearborn Financial Publishing, Chicago; 1993.

Posted in: Tax Considerations (Check with your tax advisor)