Benefits of Owning a Vacation or Investment Property


If you are considering purchasing a vacation home for your friends and family to enjoy, or an investment property for potential income, we’re here to help. At Colonial, we offer vacation and investment property financing at competitive rates and you can rest easy knowing that we’ll be here to assist you in each step of the process. Below are a few of the benefits of owning a vacation or investment property.

Brother and sister with beach ball running on driveway

Quality Family Time

The best benefit to purchasing a vacation property is the ability to spend quality time with your family and friends. Whether it be a home on the beach to enjoy some fun-in-the-sun, a place in close proximity to your favorite ski slopes or anything in between, the memories you’ll make with your family are priceless.

Tax Deductions

While we always recommend that you speak with a tax professional about any and all tax-related issues, tax deductions are available for investment and vacation properties. Some things that may be tax deductible are property taxes, mortgage interest, operating expenses and more, which could save you money on your investment.

Retirement Investment

Purchasing a vacation or investment property can be a savvy investment for when you’re ready to retire. If your investment property is bringing in supplemental income, that gives you more financial freedom than solely relying on your savings or retirement accounts. If you plan to move into your vacation home upon retirement, you can sell your current home and use the money made from the sale for your retirement. Either way, it could benefit you greatly in retirement.

Trust the Experts

Colonial has been providing home loans for more than 65 years, so we’ve seen just about everything when it comes to home loan financing. Unlike other lenders who sell your loan after closing, Colonial provides mortgage servicing to more than 97% of the loans we originate. If you would like more information about investment and vacation property financing, give me a call today. Visit www.GoColonial.com for more information about everything Colonial has to offer.

 

Related Article: Campus Cribs: Buying a Home for Your College Student

 

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