For more and more people, going on vacation means traveling to a vacation home and can also be a good investment. If you have property on the beach, a lake, or in the mountains and you are looking for a smart investment, a vacation home is the right place to start. Last year, investment properties and vacation homes accounted for one of every three home purchases, according to a report by the National Association of Realtors. There were 2.8 million second-home sales, up 16.3 percent from the year before.
Can you see yourself enjoying time away from the stresses of work in your brand new vacation home? Vacation style home plans often feature traditional architectural details, and can include a large deck at the rear where lazy days are measured by the swinging of a hammock. Relish the quiet time and relaxation of a cook out on the back deck while watching the sunset. It is a way to build long-term equity and get enjoyment out of it, at the same time.
Recreation and vacation homes generally have smaller square footage in their floor plans than year-round homes. But at the same time, prow-shaped exterior wall lines, with large windows, provide amazing views of your vacation property. There is minimum juggling required to buy, rent, and maintain a vacation home, usually from a distance and rarely are problems encountered.
It is recommended buying a vacation home that's within reach financially and geographically. Vacation home owners don't have to be rich; most second-home owners are middle class, earning $70,000-$90,000 a year. There are tons and tons of places you can buy, and it's affordable and the rents can pay for the property. Sometimes the less expensive properties yield more.
Many people in high-cost areas buy a second home before they buy their first home. That way they can build equity without breaking the bank. The only firm rule for vacation-home ownership is for the owner to manage the property. Most property management companies charge fees that equal 40 to 60 percent of rental income, which can make the economics of second-home ownership unattractive.
Vacation homes as investment properties, allows the owner to deduct all sorts of business expenses, cleaning, maintenance, including advertising, and any losses. Generally, owners are allowed to vacation at their investment properties up to 14 days a year. By contrast, true vacation homes are more like second homes. Owners can spend as much time there as they want, collect a small amount of rental income (typically 14 days) without paying taxes on it, and deduct mortgage interest on their taxes. But they cannot deduct any losses or expenses for upkeep.
But, either way you are sure to find a Vacation home a worthy endeavor, a peaceful place to retreat to and it surely will become the house of your dreams.
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Cabins are lovely homes that can be used as a vacation house or as a permanent home. There are many different styles and selections to choose from, so view these cabin plans now.
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