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Think Differently About Second Homes
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Think Differently About Second Homes
Buyers considering a second home but finding paying for the prospect unaffordable should take a look at some less-pricey alternatives.
Affordable second home opportunities are available for a buyer who approaches the market with an open mind and a sense of realism, says Suzie Laskin, a real estate associate with Prudential Joy Tarbell Realty in North Conway, N.H.
Here are some ways to think differently about second homes:
Think Thoreau. Property in undeveloped but beautiful spots can be available at affordable prices. Buying the property and building a cottage is the first step toward a fully completed dream.
Commune with neighbors. Condos or small properties that offer water access instead of waterfront can be much more affordable. Buyers won’t have their own private water frontage or dock, but shared situations work out better than expected most weekends because all the people who share rarely show up at the same time.
Don’t obsess about the address. Some addresses are more fashionable — and expensive — than others. Buyers content with a location that isn’t so popular often can get more for their money.
Make a second home a first. Make a weekend home a primary residence and rent something modest close to the office. This works particularly well for people who can figure out how to telecommute a couple days a week.
Source: The Boston Globe, Lisa Prevost |
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