Top 6 Advantages of Owning a Second Home in Lake Zoar

Top 6 Advantages of Owning a Second Home in Lake Zoar

 

Before you shop for Lake Zoar real estate for your second home, you need to be sure about the decision you are about to make. Whether you are looking for an investment property, a getaway, or a retirement place in the future, owning a second home surely has its many advantages.

Here are some benefits that you will enjoy if you own a second home:

Rental Income

If you purchase a Lake Zoar waterfront home as your second home, you can either use it personally or decide to rent it out. Should you decide to go with the latter, you need to determine whether you are eligible to deduct operating expenses. You can determine this by adding up the days you rented the property. If you occupied the property for less than 10% of the days you rented it or for less than two weeks – whichever is greater – you can deduct all of the operating expenses of the home including interest, utilities, cleaning fees, lawn maintenance, and management fees.

Convenience

Having a second home also gives you the ability to conveniently store items that are used exclusively at the second home. In other words, it simplifies travel and packing. This allows you to easily make unscheduled trips for a weekend without the hassle of packing or worrying if your stuff will arrive on the same airline flight.

Location for gatherings

A second home is a perfect venue for special gatherings, especially if you have a large extended family or if you like hosting events. Places stir memories of people, relationships, and good times. Having a second home as a spot for get-togethers can become a tradition that can keep your ever growing family close as you spread across the region or country.

Retirement head start

One of the most common goals of retirement is to have a place of retreat.  If you purchase a Lake Zoar home for sale as a second home prior your retirement, it will enable you to enjoy having a place of refuge even before you retire. This can also be a time to adjust your plans if the reality falls far from the dream.

Personal Enjoyment

Having a second home with a breath taking scenery allows you to experience satisfying and peaceful weekends and holidays. Aside from that, as you return time and again to your second home, you will get to know the local residents and eventually become part of the community.

Home improvements

Are there repairs that should be taken care of in your second home? If you are interested in spending the off-season making improvements to your second home, you can deduct the interest on a home equity loan or line of credit. However, there are exceptions. There will be a limit on the amount that you can deduct depending on the amount of the home equity loan on your main or second home and also on the type of filing. Aside from that, the amount you can deduct has a limit if the mortgage is more than the fair market value of the home.

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.

Top 5 Home Inspection Issues You Shouldn't Ignore

Top 5 Home Inspection Issues You Shouldn't Ignore

 

When looking for Candlewood Lake waterfront homes for sale, it pays to be knowledgeable about the common problems found in many properties. Remember that once you purchase the home, all the existing issues become your responsibility.

Watch out for these issues so you can adjust your offer accordingly or move on to another property that is relatively problem-free.

Roof Problems

One of the most important components of the homes is the roof. Before purchasing any waterfront homes in Candlewood Lake, make sure it has no roof problems. As a buyer, the roof is one factor you shouldn’t compromise on. A damaged or poorly maintained roof can lead to water damage. In addition to that, major roof repairs can be quite costly and should be factored in to the price of the home. However, if the home inspection reveals that the roof only has a very short life span - only a few years let, don’t expect the seller to replace it. Usually, sellers do not replace a roof before the issues arise.

Handrails

Although this may seem like a minor concern, functional handrails are necessary on staircases and along balconies for safety. Before buying the home, test all the handrails and make sure that all appropriate areas have handrails. This is especially important if the home has an elevated deck. Problematic handrails can cause dreadful accidents. This could be avoided by having all the handrails thoroughly inspected.

Structural Issues

The foundation of the home is the most important part that makes it structurally sound. Before you purchase any Candlewood waterfront homes, make sure that the foundation is in good shape. If you have a difficult time opening and closing the doors properly or if you see cracks along the exterior of the home don’t follow the mortar, it could indicate a structural settling in the house. Remember that the bigger, more pronounced the crack, the bigger the problem. In addition to that, issues concerning the foundation of the home can be costly to fix.

Rotten Wood

Some of the most common areas where you are likely to find rotten wood in a home are on the window sills. However, don’t forget to also check around the base of the home, the roof, and anywhere else where moisture may have been an issue. Remember that even modern, pressure-treated wood will break down when exposed to the elements for a time.

Inoperable windows

Another common problem found during an inspection are windows that do not function properly. Every window should be checked. Broken sash cords are also common in older homes that did not have any window upgrade. A broken sash cord can lead to a dysfunctional window. There are also instances when old windows have been painted shut making them inoperable.

Consider these issues before committing to a home. Remember that a home purchase is the biggest investment of your life. Check out www.CandlewoodLakeHomesforSale.com today to see the latest properties for sale in the area.

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.