Tax rules for second homes are complex and depend on how often you stay there versus rent it out:
: Consider purchasing with family or friends to split the financial burden. 4. Factor in Tax Implications how do you buy a second home
: If you rent the home for 14 days or fewer per year, you do not have to report that rental income to the IRS. Tax rules for second homes are complex and
: To qualify as a "second home" (rather than an investment property), the house must usually be a certain distance—often 50 miles —from your primary home and available for your exclusive use for part of the year. 3. Choose a Financing Strategy how do you buy a second home