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The Complete Idiot's Guide to Personal Finance in Your 40's & 50's by Susan Shelly, Sarah Fisher

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Chapter 12A Home Away from Home

In This Chapter
  • Considering all the angles
  • Tax advantages of owning a second home
  • Relaxation and a place to entertain
  • Understanding the cons of owning two homes
  • Buying a timeshare unit

Nearly everyone looks forward to vacations. Some of us tend to be creatures of habit, revisiting the same places again and again. Others are far more adventurous, seeking new experiences and locations.

Either way, you may have at one time or another considered buying some sort of vacation property. Maybe you love the shore and have thought about a beach home. Or perhaps you’ve considered buying a timeshare property that would allow you to trade and travel far and wide.

In this chapter we’ll look at the pros and cons of owning a second home, ...

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