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Second Home Investment
Vacation Properties Have Day in Sun

The National Association of Realtors notes that demand for second homes is on the rise and that a growing number of consumers are treating these properties as investments. Condominium apartments are sensible first investments because the condo association handles maintenance, and such units usually need fewer repairs than single-family houses.
Regardless of property type, buyers should keep the retreat's resale value in mind by choosing a home on the water or in another prime location, making sure the nearby land will not be gobbled up by development, and seeking out growing communities with strict zoning regulations.

Meanwhile, buyers should be aware that lenders may want upwards of 50 percent down for a vacation-home purchase, and the loan terms could be significantly different if the property will be used as a rental. Rental owners can deduct mortgage interest, property taxes, monthly maintenance, fire and liability insurance costs, rent collection, and depreciation, among other expenses, from their taxes. However, they will need professional assistance in complying with the Revenue Canada's complicated documentation requirements.

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