Buying a Second Home
The demand for a second home is strong and thriving. People are searching the country and around the world, including Fort Worth and Parker County, Texas real estate, for that perfect place away from home. Why?
• A second home can fulfill many roles over time: Vacation and recreation, prudent investment, retirement options.
• Vacation getaway. Who doesn’t need a little lake house that is always ready for any impromptu overnight or fishing trip? Ever spent a quiet night at the beach in the wintertime?
• Family retreat. Some of life’s most precious moments and memories can come from getting the family away from it all. What are your favorite childhood memories–beach, lake, mountain or country? Time is precious; spend it with the ones you love!
• Entertaining family and friends. Why be selfish? Let others have some fun! Besides they may even rent the place for a week or a month and cover the taxes for a whole year!
• Retirement. Why not try out a couple of different spots before you make a decision? Easy, use the second home to see how you like an area. If it does not quite fit, use a tax deferred exchange to try another locale. You can repeat the process multiple times until you get the right fit.
• Rental property. A fixer upper can be sold or exchanged (1031 tax deferred exchange) for a larger/better rental, which can be rented out when you are not enjoying it, thereby making you money, and giving you an ideal vacation spot!
• College Kids? A second home in Fort Worth for the college bound child gives you the benefits of rental property, better control over housing expenses, and something to trade or exchange after graduation (or a down payment for the newlyweds?)
• Financial security. Financial planners consistently rank real estate as a versatile, affordable financial instrument, and an integral part of any diversified portfolio. Besides, can you sleep four in a stock certificate? How about throwing a party for your teenager in their savings bond? You can enjoy your investment while it grows in value!
• For the sheer fun of it! Purchasing a second home can be your best investment over time. A second home can be purchased in every price range. According to the National Association of Realtors the average second home buyer in 2003 had a household income less than $70,000.
From the smallest corner of Texas to luxury living around the world, our Fort Worth and Parker County area Realtors can show you how to make your investments and dreams come true.
