Pinnacle’s Founding Partner Susan Talbott joined Valley insurance and real estate experts to share insights about numerous financial considerations when purchasing a second home in the March issue of Arizona Foothills Magazine.
Susan explained the key differences between a family vacation home and an investment property, noting that investment properties require more work and maintenance than other investment options. She recommended that people interested in purchasing a second home work with a financial planner to determine how the additional mortgage, taxes, and maintenance will affect their savings and retirement plans.
Susan discussed the pros and cons fractional ownership, including lower acquisition and operating costs, and the potential for luxury amenities at private residence clubs. She also warned that fractional ownership limits the days the property is available, and that additional rules established by the owner group can create challenges. It may be difficult to sell an interest in the property when you want to part ways.
The full story can be found in the March edition of Arizona Foothills, on page 83.