Tuesday, August 30, 2016

Should You Consider Buying a Vacation Home?


A lot of people dream of one day owning a second home. A second residence is often desired for a vacation home or retirement home. There are many benefits to owning a second home, but there are also a few factors you need to take into consideration when making this decision. Here are some of the tax benefits to purchasing a second home:

  1. Vacation HomeMortgage Interest - The same rules that apply to writing off mortgage interest for your first home also will apply to your second home. The interest rate on your mortgage is tax-deductible, and you can write off as much as 100% of the interest you pay up to a million dollars in debt ($1 million total - not each property!).
  2. Property Taxes - You can also deduct your second home’s property taxes. These figures are based on the assessed value of your home, and unlike the mortgage interest tax deduction, there is no limit on the dollar amount that can be deducted.
  3. Rental Use - When it comes to using your second home as a rental property, as long as the amount of time it is rented out equals 14 days or less for the calendar year, that rental income is tax-free. Which means that income is essentially “free” money for you! However if you plan to rent your home out for more than two weeks of the year, you can deduct a percentage of rental-related expenses and depreciation costs come tax time.

At Century 21 Sierra Properties, we believe we have several listings that would make the ideal vacation home! If you dream of a second residence in a peaceful wilderness setting, we have some beautiful homes and cabins located in the Stanislaus National Forest near the Sierra Nevada mountains. If you love skiing, we have a listing for a large cabin located in Bear Valley, perfect for families looking to ski at Bear Valley Ski Resort. If you’ve got the cash to spend, we have several million-dollar homes for sale that would make for very extravagant vacation homes, like this Mediterranean-style mansion that includes a wine cellar and two large terraces with views of the nearby Bear Mountains.

If you’re interested in any of our listings for a potential second home, give Century 21 Sierra Properties a call and let us help you make your dream come true!

Wednesday, August 3, 2016

Preparing Your Home & Property for Wildfires


The wildfires of Southern and Central California have been in the news a lot this season, and many people have lost their homes and properties to these destructive blazes. If you live in an area susceptible to wildfires, it’s a good idea to prepare your family, your home, and your property for survival in the event of a wildfire threat.

  • Create a Family Evacuation Plan. Although no one wants to lose their home in the event of a natural disaster, the lives of you and your family are far more important than your property. In the event of a wildfire threat, be sure to have a plan in place to get your family to safety. If you’ve recently moved into a new home, make sure the entire family gets familiar with the layout. Identify escape routes from your home and designate an emergency meeting area for your family in case you become separated from each other. Have an emergency kit ready and easily accessible that includes first aid supplies and basic tools like flashlights and batteries, as well as any important documents and prescription medications.
  • Retrofit Your Home with Non-Flammable Materials. To help make your home more fire-resistant, update your roof with non-combustible roofing materials. Box in the eaves, fascias, soffits and subfloors with fire resistant materials like treated wood (source). Apply non-combustible screening materials to all vents and eave openings. If you’re building a new home, consider using fire-resistant materials for your exterior walls like stucco, stone, or brick, and use tempered glass for all exterior windows.

Century 21 Sierra Properties hopes this blog was informative and helpful. Please stay safe and prepared in the event of a wildfire!


wildfires