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Budget Realistically If you decide to buy a second home near Southern, there are a number of factors to consider. When you own two homes, your financial commitment involves more than just paying two mortgages. You’ll also be responsible for property taxes, insurance and maintenance. Before you begin your home search near Southern, it’s a good idea to create a spreadsheet of your current expenditures, as well as the approximate costs of owning the second home, and compare it against your income. Will you collect rent from your student? If so, determine if the amount of the rent will cover enough of your costs to make owning a second home affordable. Finding one or more roommates, depending on the size of the house, can help defray your expenses. You may also be able to save money by assigning some maintenance chores to your student (e.g. lawn mowing, gardening, painting). |
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Get the latest on the Collegedale Market |
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| Craig Harding P: 423.650.4422 F: 888.402.2212 E: Craig@CraigHarding.Com |
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| Scott Brankshire P: 423.463.0713 F: 800.517. 1257 E: Scott@Brankshire.Com |
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