Second Properties Made Simple: Buying a Vacation Home or Investment Property

Whether you’re dreaming of a lakeside retreat or looking to build wealth through real estate, buying a second property is an exciting milestone. Here’s how to make the process as seamless as possible:

1. Understand Your Financing Options

Second properties often require a larger down payment and come with different lending requirements. Our brokers can help you explore options, including tapping into the equity of your primary home.

2. Clarify Your Goals

Are you purchasing a vacation home for personal use, or is this an income-generating investment? Your goals will influence your mortgage structure and tax obligations.

3. Know the Costs

In addition to the purchase price, factor in ongoing expenses like maintenance, property taxes, and insurance. For U.S. properties, consider currency exchange rates and cross-border tax implications.

4. Work with Experts

From understanding local markets to navigating cross-border financing, having an experienced team is crucial. At Orbis, we specialize in helping clients achieve their dreams of owning a second property, whether it’s in Canada or the U.S.

Ready to explore your options? Contact one of our mortgage brokers today to get started on your journey to owning a second property.