Covestor Radio: Buying a Second Home
Kimberly Clouse, Covestor’s Chief Client Advocate and Advisory Board Chair joins Covestor Radio (Episode 28) to talk about buying a second home.
Covestor Radio is a show about money milestones and investing for your future and brought to you by Covestor, an online marketplace for investing.
Listen to host Eric Dye & guest Kimberly Clouse discuss the following:
- What’s the first thing to ask yourself if you are thinking about buying a second home?
- Let’s discussion a vacation home. How should you think about the costs?
- As with all real estate purchases, I assume that location is the most important consideration.
- What about the tax implications?
- Any specific advice for people who want to rent out their house?
TIPS: Not Every Day Is A Vacation. Vacation homes require maintenance and repairs and realize that several – if not many – of your vacation days will be spent at the hardware store. Also think about how your use of the second home might change over time. You might use it often when the kids are young, less when the kids are older and involved in school activities and sports, and more when the children are out of the house. 1/3rd of buyers eventually move to into their 2nd homes full-time.
About Kimberly Clouse
Kimberly Clouse is Advisory Board Chair at Covestor, a registered investment adviser and an online marketplace for investing.
Passionate about empowering financial consumers, Kimberly works with individuals, families and foundations to help them navigate the increasingly complex world of investment advice and make more informed financial decisions.
She previously served as Managing Director at Athena Capital Advisors and Chief Executive Officer at Hale and Dorr Wealth Advisors. Earlier in her career, she worked for United States Trust Company, J.P. Morgan and Goldman Sachs.
Note: All opinions included in this radio episode are as of [February 23, 2015] and are subject to change. The opinions and views expressed herein are of Kimberly Clouse. All investments involve risk, the amount of which may vary significantly.