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4 Reasons to Buy a Second Home

View of Wilmington North Carolina from across the river

Owning a second home can boast many benefits including a sound financial strategy and a long-term plan for retirement while also offering plenty of lifestyle options. Here are the top four reasons people take a leap into buying a second home!

It’s a Sound Investment

The housing market will always be fluctuating with its highs and lows, but in the long run houses typically appreciate in value. This is especially true for second homes that are situated in beautiful settings or scenic destinations where real estate value is very high to begin with.

Long-Term Plan for Retirement

A second home purchase can also be part of your retirement strategy. When buyers purchase a home in one of their favorite locations, they can use the property for their own pleasure or even as an additional income source. When they are ready to retire, they have the option to relocate to their second home or even sell it and buy another home if their retirement plans change.

Vacation Rental

Pick a home you love, and others will love it, too. Whether your dream spot is a cabin in the woods, a beachfront condo, or a secluded mountain cottage, it provides a much-needed escape from daily life. Owning a second home in a beautiful location creates plenty of opportunities to rent it out so others can enjoy it. The resulting income can also help with paying down the mortgage at the same time.

Fun Escape Destination

Even if you love where you currently live, being able to get away for a while makes life so much sweeter. If you love to fish, a home in the mountains near a lake is the perfect getaway. Love breathing the salty air? A beachfront home complete with sand and warm rays is the best place to escape.

If you are thinking about taking the steps to buy a second home, or if you just want to learn more about your options, contact one of our home loan experts today!

6 Strategies to Get a Better Interest Rate

While market conditions obviously play a major role, there are some qualifying factors within the buyer’s control that can help secure a lower interest rate. Here are six smart strategies to consider!

5 Wise Ways to Winter-Proof Your Home

Whether you love or dread the frosty winter temperatures, we all like to save money while staying comfortable in our home when the temperatures drop. By taking a few simple steps towards winterizing your home, you can achieve both goals!

5 Tips to Prep Your Home for the Holidays

There’s nothing like being home for the holidays! Filled with traditions and family, the holiday season can give so much joy yet require a lot of prep work. Get ready with these home prep tips!

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Equal Housing Lender LogoALCOVA Mortgage LLC | NMLS#40508 | (www.nmlsconsumeraccess.org)
Licensed in AL, CO, DC, FL, GA, KY, MD, NC, OH, PA, SC, TN, TX, VA, WV | 308 Market St SE, Roanoke, VA 24011

 

 

 

 

 

 

 

 

 

 

Equal Housing Lender LogoALCOVA Mortgage LLC | NMLS#40508 | (www.nmlsconsumeraccess.org)
Licensed in AL, CO, DC, FL, GA, KY, MD, NC, OH, PA, SC, TN, TX, VA, WV | 308 Market St SE, Roanoke, VA 24011