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Financing of a holiday home is, for many buyers, the key to successful ownership - if you understand in advance what the likely costs and expenses are, you can make an investment decision with confidence.
Questions to consider are:
- What size mortgage can I afford and what level of financing is available?
- What type of mortgage is best for me and at what rate of interest?
- How much down-payment will I need?
- How much will the closing costs be?
- How long will the loan approval process take?
- What will be the monthly costs, including management, utilities and other expenses?
- If I rent the home to others, what are the typical rental rates and how many weeks per year can I expect to rent it for?
- To what extent can I rely on the "guaranteed income" schemes which are heavilly promoted by some sellers?
I can help you to answer these and other questions - without any pressure or hype
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