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Investment Real Estate >The Right Time to Buy Are you waiting for "just the right time" to get into the real estate market? The signs indicate that there is no time like the present. Interest rates are still comparatively low and buyers are shopping for new and second homes in great numbers.
Vacation homes are very popular for investment purposes and personal enjoyment. You can use your vacation home as a getaway property now, and by the time you retire you will have paid a significant amount on the loan. If you live in a vacation home for 14 days a year or less, you can take depreciation on it.
Another important benefit is that tax deductions in the form of interest and property taxes help to offset the cost of paying for a second home. If the debt does not exceed $1 million, mortgage interest payments on principal residences and second or vacation homes are fully deductible for tax purposes.
Don't waste valuable time while interest rates creep upwards -- all you need is the right real estate agent to guide you!
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| Q |
What 70-room East Coast mansion was built as a summer home and is known as a "Gilded Age cottage"?
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Cornelius Vanderbilt's "Breakers" Mansion in Newport, Rhode Island, named for the waves crashing along the cliff that separates the property from the ocean. |
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