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Investment Real Estate >Retirement and the Second Home
Buying a second home as rental property makes a great centerpiece to your retirement plan. It forces you to make regular savings in the form of mortgage payments that become your equity.
You only need cash for the down payment, and you should make sure that your monthly rental payments will cover the mortgage and any additional expenses. This is a real possibility if you buy the right house at the right price because a good single-family house should always stay rented. Your investment money is subject to less income tax, and the interest and property taxes may be deductible.
Housing has appreciated in value all over the country in recent years, making a second home an important hedge against inflation. Most experts predict that interest rates for fixed-rate and adjustable mortgages should remain in single digits for the foreseeable future, so it should be easy to acquire financing with a small down payment.
Call an agent with your real estate questions. They have helped hundreds of people to sell their homes and properties--and to purchase the home of their dreams.
Lori Progar Coldwell Banker 1133 S. Milwaukee Ave. Libertyville, Il. 60048 Phone: 847-990-3110 Fax: 847-362-9625 Email: LoriProgar@NUMBER1EXPERT.com
With over 23 years real estate experience with Coldwell Banker, Lori has proven herself as the top agent in her office and in the top percentile of her Company. Her extensive involvement with her community and long time resindency within her area has allowed Lori a keen understanding of the competition and marketing strategies needed to help you relocate. Call or email Lori today!
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Vernon Hills, Lincolnshire and Mundelein, Illinois