Considerations When Selling a Vacation HomeRules differ for vacation homes and rental properties, and whether a second home is designated as one or the other can influence seller options for financing as well as carry tax implications for both buyer and seller. Options for vacation homes, such as waterfront real estate, may not be clear cut. When it comes time to sell an Ortley Beach vacation home, there also are tax implications that hinge on whether the property was ever rented, for how long, and how it was used by the owner and the owner's family. Numerous variables exist.

A second home, just as a primary residence, is considered a capital asset, subject to either short-term or long-term capital gains based on the length of time the home was owned. There are also possible tax…

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Tax and Lending Implications of Buying a Vacation HomeBuying a vacation home is very different from buying a primary residence. A homeowner who has bought a primary residence and is now thinking about buying a vacation property may be startled by the many differences between these two purchases. Knowing the differences can help a person decide whether or not buying a vacation home, that's waterfront real estate or otherwise, is right for them.

Vacation Home Mortgage Requirements

Lenders have different standards for people buying a vacation home versus people buying a primary residence. These stricter requirements can make buying a vacation home more difficult for the average person.

For example, a buyer is required to put down a much larger down payment on a vacation home than a private…

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Metal Roofing Options for HomeownersImagine not having to replace your roof for at least 50 years. It's not too good to be true; it's the typical lifespan of a metal roof. Learn the benefits of metal roofs, including their energy efficient features, to determine if this is the right choice for you and your waterfront home.

Metal Roofs Save Energy

Metal roofs deflect sun that hits the roof, bouncing it back into the atmosphere. This decreases the amount of solar heat any home gains as the sun beats on the roof. When a home stays cooler because it does not absorb solar heat, cooling system needs to work less hard to maintain a comfortable temperature. Homeowners will see an immediate decrease in utility bills from switching to a metal roof.

If homeowners have a standard, dark…

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What Are Home Buying Contingencies? If you're a home buyer making an offer on the waterfront home of your dreams, you might spend a lot of time thinking about home buying contingencies. Understanding what contingencies are and how they can benefit you is important. Once you know how contingencies work, you'll be able to make choices that can make your home purchase successful.

What Are Home Buying Contingencies?

Home buying contingencies are clauses in a home purchase contract that enable the home buyer to drop out of the purchase if certain conditions are not met. There are three major home buying contingencies that are used in home purchase contracts.

What Are the Different Kinds of Contingencies?

Perhaps the most commonly utilized contingencies are the home appraisal…

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