Are there any “hidden” costs associated with second homes?
You’ll need to budget for homeowner’s insurance that costs more than your primary home insurance, taxes, maintenance costs, security to protect the home while you’re gone, and travel expenses to get there. And just like your primary residence, you’ll pay for services such as sewer, water, electricity/gas, and phone. You may also need to consider unusual costs, such as winterizing a cabin in the mountains. Where can I get more information about second homes? Work with a local agent who can provide answers to your questions about real estate in the area. Talk to lenders with local branches who know the community and can price competitively. The Internet has a wealth of information. You can find all the Arizona REALTORS® in the area you’re considering online at www.aaronline.com; click on Find-a-REALTOR®. Search for “second home” and you’ll find thousands of sites. If you’re just starting your research, try www.EscapeHomes.com, www.realtor.com, and www.SmartMoney.com. A second home can be
