This article from the Wall Street Journal offers a great, comprehensive overview of purchasing and owning Ludlow VT real estate to be used as a vacation home. It follows the story of a couple beginning with deciding to purchase in VT, to maintaining the property, and how they chose to handle renting the property.
Important topics for all vacation home owners that are covered include:
- Researching the local rental market and important factors to consider
- Determining fees/maintenance costs ahead of time
- Deciding who will manage and maintain the property
- Deciding how rental income will be received and used
- Determining the IRS status of the home (second home or vacation home?)
- Drafting a rental contract
For more information about purchasing Ludlow VT real estate, please call me at 802-353-1983 or visit ISellVermontRealEstate.com. You may also request complimentary e-books and relocation information here!