Vacation Homes: Why Buy

Often you can rent out a second or vaction home. You may be able to recoup much of your costs by renting it out only part of the time. In recreational areas, like La Jolla CA near San Diego, Boca Raton FL or Virginia Beach, often you can rent out a property weekly for a few months and make enough money to pay for its annual costs.

On the other hand, you may be able to write off a protion of your expenses and avoid paying a portion of your income. The tax law on write-offs is constantly changing so make sure you consider an accounting professional for details.