New Secret Lets You Afford That Second Home

Tax Benefits of Owning a Second Home

Owning a second home can also come with attractive tax benefits. If you rent out your second home for part of the year, you may be eligible to deduct expenses related to the rental period, such as mortgage interest, property taxes, and maintenance costs. According to the Internal Revenue Service (IRS), these deductions can significantly offset the cost of owning a second property¹. It's advisable to consult with a tax professional to understand the specific deductions you can claim and how they apply to your situation.