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Real Estate

Second Homes

What are typical cash outlays I should consider when owning a second home?

You should consider several typical cash outlays when owning a second home. You must use cash for such items as your initial down payment (if you get a mortgage in order to purchase the property), all fees associated with obtaining the initial mortgage, property taxes, homeowners insurance, homeowners fees, furnishings, repairs, renovations/ rehabilitation, ongoing maintenance, cleaning, monthly mortgage payments, and transportation costs.



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