A vacation home is a property that people buy for weekend retreats or other vacations. Vacation homes are either rented out when not used by the owner or left vacant. In some cases vacation homes may also be investment properties. Learn about what to consider when buying a vacation home or passing it on as an inheritance.
Many Americans are buying second homes in Mexico. Developers are setting up second home developments in Mexico like an American condominium association. For Americans thinking of buying a primary or second residence in Mexico, here are some things to keep in mind before you sign the papers.
When you buy property with a friend you need to figure out who is going to pay for what. Buying a vacation home or a second home includes mortgage payments, utility payments and home repair costs. After you've determined the vacation home responsibilities it's a good idea to draft a partnership agreement with the help of an attorney.