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Second home as a primary residence

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Buy a second home as a primary residence


Some people buy a second home to use as their principal residence. Low housing prices, low interest rates and tax incentives have enabled homeowners to buy another home. The copper market can make it difficult for people to get their first home to sell. But for this group, there are two options to buy property to live in their current home for rent.

Rent out your current home

The number of people renting a house is huge on the rise. Because it has become harder to buy a house and because the financial risks are also increased may be interesting to your house to rent. Many families are looking for a house to rent. If you choose to rent your house to another to buy, there are a number of factors that you should consider. There may be tax consequences, depending on whether you are making profit or not. If you are going to make a profit, then the deductible loss. You can also depreciate repairs. You can choose to hire the poor to take to ensure that qualified tenants in your current home arrive so you do not have to worry about repairs and defaulters.

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