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Can you afford a vacation home?

A Few Things to Consider Before Owning a Vacation Home

Whether it’s an investment, a getaway, or both, a vacation or second home, requires not only extra money, but some planning. If you tend to spend your vacations and weekend getaways at the same place, a place that you consider a second home, and you can afford a second mortgage, the possibility of a vacation home might not be such a bad idea. Having a mountain cabin or beach cottage can afford a sense of freedom, knowing you have a place to escape to after a long work week, or an open place to offer friends and family.  Don’t forget, that this home away from home needs the same attention your primary residence needs.



Extra Costs

You’ve got the home purchase price covered, but don’t forget about operating costs. Utilities, insurance, HOA or condo fees, and taxes are some obvious reoccurring costs. The cost of furnishing a new place down to the dishes is another expense to consider. If you’re second home is a place you’ll go to engage in outdoor activities, you’ll want to equip it with those tools of the trade, like skis or kayaks. Property management and security companies may be other expenses to consider with a vacation home to keep it clean, maintained, and safe in your absence.

When It’s Empty

When not in use, you’ll want to make sure your vacation home is protected and maintained. If your schedule gets busy and you aren’t able to spend as much time as you planned there, you’ll need a plan to keep up appearances that it’s not vacant. In addition to yard maintenance, some basics to consider are having someone to collect mail and make sure newspapers don’t pile up. A home that looks vacant can attract thieves. Consider lights on timers or asking neighbors to park in the driveway to give it the lived in look are some ways to keep up appearances.

Emergency Planning

When considering a second home, you’ll need to plan for the unexpected too. Water damage from inside the home due to broken water pipes, or from outside the home due to mother nature, both need a clean-up, repair, and security plan. If you use a property management company, make sure they are prepared for these eventualities in your absence. Some home security companies may offer solutions to preventing and managing emergencies. Have a list of reliable maintenance companies to call upon, if needed, when not in residence.


With a little planning, you’ll have a better understanding of the total cost to maintain a second home, how to keep it looking lived-in in your absence, and what to do in case of an emergency.


To learn more about how Integrity Mortgage & Financial Inc. can help you finance a vacation home, please contact us by phone or email at (719) 638-0531 or

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