Is buying a second home on your 2021 to-do list? What to consider

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GREENSBORO, N.C. – Owning a second home can provide retirees – or younger families – a mountain retreat or a house at the beach for those family vacations or quick weekend getaways. But if buying a second home is in the plans for 2021, be sure to consider all the upsides and downsides before committing, Patrick Rush, CEO of Triad Financial Advisors and the ForbesBooks author of “Gain Big and Give Back: Financial Planning with Intention,” said. “Many retirees end up regretting it,” Rush said. “They feel they are forced to go to that second home every weekend just because they spent so much on it. A vacation property or second home can certainly provide a lot of joy, but it rarely works out financially.” That doesn’t stop people from buying them, though. The
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