golden in Vacation & Second Homes
Vacation | Second Homes
Vacation & second homes are a great way for seniors to enjoy much of their time away from their main home and get away on an extended vacation. Owning a vacation or second home has several lifestyle and financial advantages â€“ savvy seniors are realizing this and investing in them all over the country.
Owning a second home or vacation home may not be as costly as you expect. Many seniors who purchase second homes are able to rent them out during the months they are not there in order to subsidize the costs.
Tax Advantages of a Vacation or Second Home
The tax advantages you receive depend on how many days you personally use the home versus how many days itâ€™s rented out. If you use the home less than 21 days for personal use the IRS considers it a rental property. If you own a vacation home and rent it for less than two weeks you get a tax break because you are not required to report the rental income; it becomes essentially tax free income.
If your second home is classified as a residence, but you end up renting it for more than two weeks you have to report the income, but youâ€™ll get allowable tax deductions. Deductions can include:
Real estate taxes
Lifestyle Advantages of a Vacation or Second Home
The lifestyle advantages of a vacation home give you the freedom to move whenever you want to. Most seniors choose to move to their second home to escape harsh winters. Whether itâ€™s a beach side bungalow or a lake side home, you can enjoy a change of environment.
Having your own vacation spot to get away to and spend time with family and friends has great advantages and an obvious appeal. When selecting the perfect vacation or second home, be sure you go into the deal knowing all the ramifications, and whether leasing or buying is right for you. Know your limits and donâ€™t get into a big rush.
Chapman Realty is a full service real estate firm located in Brunswick and the Golden Isles of Georgia including Saint Simons Island, Sea Island and Jekyll Island. For more information visit http://www.juliechapman.com or call 1-877-221-0088.
123 Benedict Road
in Winter Retirement Homes, Vacation Resorts, Vacation Home 55+ Communities, Summer Homes, Senior Independent Living Apartments and Communiti, Gated Communities, Age-Restricted Retirement Communities, Affordable Retirement Communities, 55 Plus Resorts, 55 Plus RV Communities
Golden Village Palms RV Resort is California's Largest RV Resort, with 5-star Resort amenities.It is elegantly appointed with unforgettable landscapes that offer a unique opportunity to expand your current lifestyle.
3600 West Florida Ave.
Hemet, 55+ Communities California 92545
New home in gated community, perfectly situation on over 1 acre lakefront lot with courtyard and pool...located in Brunswick and the Golden Isles of Georgia
Brunswick, Georgia 31520
in North Port, Winter Retirement Homes, Vacation Home 55+ Communities, Sarasota, Punta Gorda, Port Charlotte, Golf Course Community, Gated Communities, Find 55+ Agents, Affordable Retirement Communities, 55+ Friendly Homes
Meeting the needs of maturing adults when buying or selling residential or investment properties. From the perfect "active" retirement community to a "golden" forever home; we pride ourselves in finding the correct location for your specific needs.
14850 Tamiami Trail
North Port, 55+ Communities Florida 34287
in Small Town Living, Retirement Resort Communities, Retirement Lake Houses, Luxury Homes, Georgia, Gated Communities, Find 55 Builders, Coastal Georgia, Brunswick GA, Beach Retirement Homes, 55+ Friendly Homes, 55+ Communities | Retirement Communities
Glynn County offers over 14 miles of beaches and 225 holes of golf, boating and historical sites.For more information or a newcomers guide, please visit Chapman Realty's website at http://www.juliechapman or call 1-877-221-0088 toll free.
123 Benecict Road
Brunswick, Georgia 31520