military spouse
Confused about dryer sheets
- Joined
- Aug 15, 2005
- Messages
- 6
Hello everyone!
My husband recently retired from the military and we are considering buying a propery as a rental (actually, initially our intent will be to use it as a vacation home, then a rental, and then possibly a full-time home). The property is in an area where we lived in the past and houses are appreciating and probably will for some time due to the influx on retirees and very limited land. The property was built in the '80s and is a end-unit townhome with over 1700 square feet. Purchase price is $164,900. What would be some tax-advantages, advantages in general, and disadvantages? We would be financing it as a vacation home with an interest rate of 6.5%. We currently live in a home with a mortgage and my husband's income is $105,000 and mine varies depending upon the number of nursing shifts I am willing to work I am interested in making this purchase both for the possibility of contined appreciation and for the possibility of truely retiring one day and only being able to afford to live in a property of that price. We currently live in PA and probably can't afford to stay out here if we don't want to work someday. Any help/thoughts would be greatly appreciated. Oh, our ages....37 and 40.
My husband recently retired from the military and we are considering buying a propery as a rental (actually, initially our intent will be to use it as a vacation home, then a rental, and then possibly a full-time home). The property is in an area where we lived in the past and houses are appreciating and probably will for some time due to the influx on retirees and very limited land. The property was built in the '80s and is a end-unit townhome with over 1700 square feet. Purchase price is $164,900. What would be some tax-advantages, advantages in general, and disadvantages? We would be financing it as a vacation home with an interest rate of 6.5%. We currently live in a home with a mortgage and my husband's income is $105,000 and mine varies depending upon the number of nursing shifts I am willing to work I am interested in making this purchase both for the possibility of contined appreciation and for the possibility of truely retiring one day and only being able to afford to live in a property of that price. We currently live in PA and probably can't afford to stay out here if we don't want to work someday. Any help/thoughts would be greatly appreciated. Oh, our ages....37 and 40.