Should you buy a second home? Take a look back at this piece I wrote on October 17, 2018 for some insight into whether or not you should invest in another house.
One of the sticky parts about owning a second home is property taxes. You can’t escape them. Even my favored “live free or die,” New Hampshire, by example, has the third highest property taxes in the country. California, perhaps surprisingly, has a much lower rate, coming in at #34. But, the median price of a home in California far exceeds that of New Hampshire. My advice to anyone considering a second home is to rent first or to be absolutely sure you love where you will live. You’d be surprised how much you can learn about a city or town by actually living there for a year or so as a renter. It’s always a good idea to make sure you’ve exhausted all of your options.
