Are second homes a good investment?

Are second homes a good investment?

John Caliendo (Realtor) gives expert video advice on: What are the common reasons for buying a second home?; If I am buying a second home as a rental, what factors should I consider?; If I am buying a second home as a weekend getaway, what should I consider? and more...

When buying a second home, like any initial real estate purchase investment you have to know what you're doing when going in for it. I think that the biggest fear and concern to most buyers of a second property investment is that they're going outside of their domain. They know their area that they're living in and the area that they grew up in. However, when it comes to this other hot area that they've heard about, they're kind of working in a vacuum. So, I would recommend really diligently digging in, learning the ‘ins and outs' of that community, the same way you would purchase a primary home. Treat it as a primary purchase investment but it just ends up being a second purchase.