Second Home

 

A second home refers to private ownership of a residence other than one’s primary residence. Depending on their purpose, second homes are sometimes called vacation homes or secondary residences The property must be available for your exclusive use and enjoyment and must not be subject to any rental pools or long-term leases.

 

Advantages:

 

• Buy the home now while employed and retire in it later
• Build wealth with additional equity
• Similar terms to primary residence loan

 

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