Clarify occupancy
A family retreat, a second residence and a short-term rental may be assessed differently. Tell your broker exactly how the property will be used.
Check property suitability
Seasonal access, water supply, zoning and construction can affect lender eligibility and insurance. Confirm the details before committing to a purchase.
Budget for two properties
Include existing housing costs, maintenance, utilities, travel and a reserve. Any rental assumptions should be conservative and legally permitted.
A useful starting checklist
- Property listing and intended use
- Income and existing housing obligations
- Down-payment evidence
- Insurance and property details