North America’s vacation property resource
North America’s vacation property resource
Welcome to our resource page for a first time home buyer of a vacation home. Buying your first vacation home can be overwhelming and we here at Vacation Property Online aim to make the process as smooth as possible. Perhaps you’re questioning whether to purchase a vacation home in the first place or whether vacation homes make good investments. Or perhaps you have more specific questions about lending requirements. Whatever the case, you’ve come to the right place.
Explore articles covering various topics for first time buyers. Topics include: how much vacation home can I afford, what is recreational property, what is the best vacation property type to buy, are mortgage rates higher for vacation homes, an overview of vacation home expenses, purchasing a vacation home as an investment and others. Whether you are in the market for a condo by the beach or a ski chalet close to the slopes, we have the answers to your questions.
Last updated: November 20, 2021 How to Buy a Vacation Home: Introduction As I reflect on the topic of how to buy a vacation home, I am naturally drawn back to when I bought my first vacation home. In particular, I remember how much information was thrown at me. From understanding how much I could…
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Debt-to-Income Ratio for a Second Home If you’re thinking about taking out a mortgage for an additional property, whether through a HELOC, second mortgage or other second home financing, lenders in the United States and Canada will look closely at your debt-to-income ratio for a second home. In this guide, we’ll look closer at debt-to-income…
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Introduction to Buying a Second Home As a real estate investor and owner of a vacation rental property, I’ve dealt with numerous ownership questions first-hand. I’ve also read various resources over the years in order to supplement my own experiences. Yet, there are many different resources out there on various topics, from the true costs…
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Many Americans and Canadians have significant equity built up in their home, which may feel untouchable. However, a second mortgage makes it possible to tap into the equity. A second mortgage is an additional loan taken out on a property that’s already mortgaged. If you have equity built up, a second mortgage is a great…
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Last updated on August 28, 2021 Before buying a second home, you will likely ask yourself can I afford a second home and, if so, how much second home can I afford? While everyone’s financial circumstances differ, there are certain guidelines to follow in the United States and Canada when preparing to buy a second…
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How to Buy a Beach House: Setting the Stage Whether you’re buying a beach house as a primary residence or a second home, you will need to take into account the unique characteristics of such properties before buying. The same is true whether you are buying a beach house in Tofino, British Columbia or Corpus…
Read MoreOwning a home is a keystone of wealth… both financial affluence and emotional security.