Tampa Bay Vacation Home, Now is the Time to Buy in Florida
If you are like most people, you want a vacation home and you want to save for retirement too! So, why not do both by letting us help you buy a vacation home or condo in Tampa Bay, Florida?
Vacation homes are becoming an increasingly popular investment due to the great tax advantages (1). In most cases up to $1 million in mortgage debt insurance is deductible in addition to points and property taxes.
As a bonus, you may collect rent for up to 14 days per year without claiming it as income. In most cases, be sure that you don’t go over that 14-day limit or you will have to abide by a whole new set of investment property rules.
The Taxpayer Relief Act of 1997 also allows you to keep up to $500,000 in profit from the sale of the home as long as you have lived in it for two of the last five years and haven’t sold another home in the past two years.
Of course, one big consideration for a vacation home is location, and what better location than Tampa Bay, Florida. After all, we have some of the top beaches in the world here; we have the Gulf of Mexico, several fresh water lakes, and golf courses. You can swim with dolphin and manatee, fish, scuba dive, play golf or tennis, sail or go boating on fresh or salt water.
Call Jack today, 727-710-8036, to see how we can help you own a piece of paradise, or visit our website and tell us that your requirements for a Tampa Bay Vacation Home.
Jack Haydon
727-710-8036
(1) We advise consulting with your tax advisor before purchasing real estate.
Hi Cyndee and Jack,
when is the best time to buy a vacation home in Florida? I am guessing that when it is hot there are fewer people looking, so would that be a better time to buy? Do you do a lot of 1031 exchanges for vacation homes that will be short term rentals?
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