When you think of the average person, you probably don’t expect that they own a second home. If someone owns more than one house, they must have a lot of money, right? That is not necessarily true. Some homeowners have a second house because they’ve bought a new one and haven’t sold the first, yet. Others have the idea to buy one at a low cost, fix it up, sell it, or rent it to someone else.
A third option is to buy a house for vacationing and renting it weekly to help pay for costs when you’re not using it. Either way, there are certain things you need to do to own a second home, and we’re here to help you find out. Keep reading to see what you’ll need to purchase a second home.