Contemplating a second home? Regardless of its size, here are some tips from experts:
1. Consult your accountant or financial adviser before signing on the dotted line. Tax rules can work for or against you if you don't know the latest updates.
2. Take into account extra expenses for security, maintenance, travel, etc. It all adds up.
3. Meet the neighbors, or at least visit the property at different times of the day and night.
4. Check with the local municipality for pending zone changes or subdivision applications that might affect the property.
5. Keep a set of clothing, toiletries and nonperishable food in the second home to avoid packing each time you go.
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