are vacation homes an investment?

Palm Beach Post Real Estate

Builder GL Homes showing new models west of Delray Beach
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Palm Beach County to charge code violations to tax bills
The Palm Beach County Commission took the following action Tuesday: Abandoned properties: Agreed to let county officials bill clean-up costs for abandoned and neglected homes to a property owner's tax bill, rather than putting a lien on a home, which is less likely to result in prompt repayment.
3.8 percent tax on home sales affects only people with high incomes who make large profits
An email circulating on the Internet claims anyone who sells a house after 2012 will be hit with a new 3.8 percent sales tax, thanks to an obscure clause in the Patient Protection and Affordable Care Act.

Sun Sentinel Real Estate

Citizens removes insurance discounts on 100,000 homes
More than 100,000 Florida homes re-inspected by the state-run insurer of last resort have lost windstorm discounts, resulting in average premium increases of $600 a year, according to data released this week.
Terrell Owens facing foreclosure on South Florida condo
Add a foreclosure lawsuit to former NFL star Terrell Owens’ list of recent troubles.
Ask a real estate pro: Bank of Mom and Dad should set lending rules
Board-certified real estate attorney Gary M. Singer writes about the housing market in this space each Friday. To ask him a question about short sales, mortgages, refinancing, homeowner's associations or any other residential real estate topic, click here .

Palm Beach Foreclosures

are vacation homes an investment?

What do you think of a Boca Raton FL area vacation home as an investment?

You can buy a vacation home today for investment purposes as well as enjoyment. And yes, there are tax benefits.
Some people buy a vacation home in the Boca Raton FL area to use as a permanent retirement home later, which allows them to get ahead on their payments. Another benefit is that the interest and property taxes on a vacation home are tax-deductible.
Some real estate experts predict that vacation homes will appreciate in value due to rising demand from the aging Baby Boom generation.
You also can depreciate the property if you live in the house fewer than 14 days a year, or 10 percent of the number of rented days - whichever is greater.
You also need to consider whether you can afford to carry two mortgages, pay for the extra utilities and maintenance costs, and how this investment fits into your total personal finance picture.

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Palm Beach Entertainment

Dinner and a movie
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South Florida Events

Equal Housing Opportunity

Florida Real Estate News

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