It's not all sunshine and swimming pools, but vacation homes can be smart buys if you know what to expect, buy wisely, and visit often or plan to rent out the home when you're not there. Before you buy a second home, consider how you'll be affected by these 5 things.
If the home is very far from where you live, you might not want to make the drive as often as you're envisioning when you're in the planning stage. Location also matters for renters, especially with popular areas like Cadence. If you want to rent out the property, make sure the community attracts vacationers—otherwise, you won't get the cash you need to cover your expenses.
Know the Costs & Rules Up Front
Hidden costs add up quickly when you're traveling…