Quote:
Originally Posted by roastbeef
Quote:
Originally Posted by Haywood
I'm looking at securing a second home in FL. I would look to rent it out while I am not there. Can anyone tell me the tax benefits of buying a property as a second home vs. an investment property? I keep reading pro's and con's. Also, working with lenders, they tend to want more money down and offer higher rates for investment houses. The benefits I see as an investment home are you can write off the rent even if it's unoccupied. Repairs can be written off, but not if it's a second home. If anyone has experiences with either, please let me know. Thanks in advance.
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Second home will always be better. You can't write off "lost rent" if it's not occupied. That's nonsense. |
Thanks. That's what I decided. Even as a second home, you can still rent and get the benefits of writing off the investment. I also got a better mortgage rate. 2.375% for 15 years. The rates are crazy good right now!