If you're planning for an early retirement having a second home in Lake Zoar is beneficial, here's why!

Top 6 Benefits of Buying a Second Home in Lake Zoar

By Deborah Laemmerhirt | June 28, 2016

Top 6 Benefits of Buying a Second Home in Lake Zoar

 

If you are thinking of purchasing a Lake Zoar real estate as your second home, you will be among the few who will turn the dream to a reality. You will also have the opportunity to enjoy vacations whenever you want, retire to a place you love, or even generate income as a landlord. Read on for other advantages that come with having a second home.

If you're planning for an early retirement having a second home in Lake Zoar is beneficial, here's why!

Preparation for retirement

Purchasing a Lake Zoar waterfront home as second property will give you amazing vacation opportunities.  It also allows you to establish community ties that make for a smoother transition once you decide to retire. It will give you the opportunity to build friendships and get involved in local activities until the day when you finally decide where you really want to spend your golden years.

Financial Benefits

Investing in real estate can be a great way to grow your wealth if done responsibly and with an understanding of the risks and advantages. There is no reason to think your second home will not appreciate over time. This is especially true if you buy a property in a resort or commercial area that is likely to retain its popularity. You can also generate income by renting the house out when you are not using it.

Tax deductions

Another benefit of owning a second home is tax deductions. Most people prefer to keep their second homes unoccupied when they are not around to live in it. However, if you allow and charge rent for occupancy for no more than two weeks per year, the interest on your mortgage and the property taxes are fully deductible from your gross income. For tax purposes, you can treat the mortgage on the second home the same way you would the mortgage on your primary residence.

Familiarity

Purchasing a Lake Zoar home for sale as second home will also allow you to look forward going back to a familiar place, especially if you have great memories each time you stay there. You will eventually become familiar and comfortable with the location. It will also give you the opportunity to build long-term friendships with residents and become part of the social fabric of the community.

Doubling ownership benefits

You will get twice the benefits of real estate ownership when you own two homes. Each year, you will be able to pay down your second-home loan a bit. There is also a great chance that your house will increase its value. If you pay your mortgage without refinancing it, you will own the property free and clear in 30 years. In other words, second home ownership helps you build your personal wealth.

Access to other vacation homes

Most second homes are situated in areas that people frequently visit like resorts, golf courses, mountains, and lakeside. Because of your home’s ideal location, owners from another place can arrange to trade time in their house for time in your home. This is called home exchange. It is an alternative means of travel accommodation, wherein two parties agree to swap their homes for a set period of time without any monetary exchange.

Check out www.HomesInConnecticutForSale.com today for more tips on how to sell your home fast and for the best price.

If you want to work with a real estate professional who can assist you in buying or selling Candlewood Lake, Lake Lillinonah homes, Lake Waramaug and Lake Zoar real estate, call me, Deborah Laemmerhirt, at 203-994-4297. I have the knowledge, expertise, and tools to help you close that deal.

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About Deborah Laemmerhirt

Let me assist you in finding everything you need to know about buying or selling a home! As the preeminent real estate professional in my community, I am dedicated to providing the finest service available while breaking new ground. Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. I go the extra mile to help you achieve your goals. That’s why I constantly research the home, market and estate values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative marketing techniques to attract potential buyers. As an Internet-savvy real estate representative in Connecticut, I’ve had the opportunity to help many home buyers find their ideal homes and many sellers obtain top dollar for their homes. Buying or selling a home is one of the largest financial transactions that most people ever undertake, so I will help you through every step of the process. My goal is to make your home selling or buying experience as easy and enjoyable as possible. My services include: Explaining the home selling and buying process thoroughly Diligently selecting homes that meets your criteria Pricing your home correctly and implementing a unique yet proven marketing plan Negotiating on your behalf Tracking the closing process to ensure a smooth transaction I welcome the opportunity to address any questions you might have about buying, selling or current market conditions. Please call or e-mail me any time, and I will be happy to discuss your next steps in the buying or selling process. I specialize in both Residential and Commercial Properties. I also head a Real Estate Group to provide you with expert service and support. Areas of Expertise Making transitions in your life is challenging. You may be moving from out of town, a different state, internationally or just next door! Regardless of the distance I am prepared to respond to your unique needs.If you are a BUYER looking to downsize, up-size, want a new construction, desire a condominium, to invest, even if this is your first home, I will design a unique plan to fulfill your needs in a reasonable time frame, with the best negotiated price and the least amount of inconvenience.For my Home Sellers, I have an innovative marketing plan that will leave nothing to chance. Just call, and I would be happy to share the DIFFERENT and SUCCESSFUL TOOLS I utilize on each of my listings. I have lived in Connecticut for over 35 years. I practice Real Estate in Fairfield County, New Haven County and Litchfield County. This includes, but is not limited to Bethel, Bridgewater, Brookfield, Danbury, Harwinton, Kent, Litchfield, New Fairfield, New Milford, Newtown, Oxford, Ridgefield, Redding, Roxbury, Sherman, Southbury, Warren, Washington, Westport and Wilton.