Maybe you have found yourself in a position where you could own another home in a great vacation location or even a condo near family or friends.
If you can swing it, you should know that there are tax benefits, along with improving the quality of your life in owning a vacation home. If you have it… you will go ! Owning a vacation home with allow you to get away and relax on regular basis, instead of the one vacation per year that most people take.
Many people are now renting out their vacation homes (and regular homes) that are in great locations through a service called Vacation Rentals By Owner. Here is their website http://www.vrbo.com
There are agencies that can assist you in getting your units/home rented out. I know someone who has done this for several years and is pleased with the system. The money they make helps pay for their extended vacations and help with the mortgage payment.
Now is a great time to consider this type of investment, as interest rates are still at historical lows. Be sure and check with your accountant regarding tax advantages or deductions you may experience.