Home Staging Wisconsin
January 10th, 2010
Question: What are the concerns when buying a new primary home, and keeping other as 2nd residence?
I own a 2bd/ba condo in a ski town. I bought it in Feb of 2005. Because of circumstances way beyond my control, I have to move away, perhaps indefinitely.
It is possible that I will return in a year, or find that over the next 12 months I have to sell. At this stage, the investment is increasing at 7% a year. I expect that trend will continue for the next 15 years, or longer.
If I buy another home, what concerns should I consider, ie taxes, second-home owner, rent out the 1st place, etc.
I will also be moving out-of-state which I know changes some tax or something... From Colorado to Wisconsin
Answer: aside from affording everything, u want to avoid things like a cold climate and an unoccupied house where the heat goes out and all the pipes freeze and burst and the insurance wont cover it. in a nice area where i live a house had to be condemned cuz it was a second home and that exact thing happened and they did not have enough cash to pay when insurance only paid for half.
IM Wisconsin Home Staging area
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