What’s the cost of buying a second home? A second home mortgage calculator breakdown

Whether you're applying for a mortgage for your first or second home, a letter of explanation can be vital to qualifying for home loan funding. If an underwriter requests a letter of explanation, welcome it as an opportunity to clarify your financial situation and clear up any confusion about your credit history or assets. A letter of explanation is particularly useful when an underwriter has concerns during the loan or mortgage application process. It addresses issues such as past bankruptcies or gaps in employment, ensuring a transparent and comprehensive understanding of the applicant's financial standing. Underwriters examine your financial history and determine if you qualify for the home loan you’re applying for. Since loan applications don’t include space for explanations, an underwriter may request that you submit a letter of explanation as evidence that you meet the funding criteria. Why do you need a letter of explanation? There are several reasons why an underwriter or mortgage lender may request a signed letter of explanation, particularly when it comes to a Here are some of the most common reasons you may need to write a letter of explanation. 1. You have a poor credit history Your credit history helps lenders know how you’ve handled debt in the past. The following red flags can potentially indicate poor debt management and may require a letter of explanation: If your credit score is low, it may be in your best interest to have a letter of explanation on standby. Share how you got negative marks on your credit history, and explain why you are still a good candidate for the loan. 2. You don’t have rental history Ideally, lenders want to see that you have a consistent rental history for the last 12 months. This reassures them that you will be able to handle regular mortgage payments.  If you have a gap in your rental history, explain the cause. Caring for a family member or recovering from an accident are possible explanations for a rental hiatus. 3. You have employment gaps Similar to your rental history, lenders prefer to see consistent employment in the year before your loan application. This shows the lender that you have the income to make regular mortgage payments. A lender can be flexible when they know more about the circumstances that led to an employment gap. Being laid off or raising children are possible explanations for the lack of recent work experience. 4. You report different addresses If the address on your driver’s license does not match the address on your loan application or credit report, a lender may ask you to explain the discrepancy. 5. Your income is inconsistent Underwriters will carefully review your income. If it fluctuates often, they may request a letter of explanation. If you are self-employed, your accountant may also have to write a letter of explanation to verify how you generate your income. You might also find it helpful to use a 6. You work remotely If your remote career is tied to an address in a city or state that is different from where you are buying a home, especially if that home is intended to function as a second home office, a lender may request that your company provide a letter of explanation verifying that your job (and income) will not be affected by your move. This situation is becoming increasingly common with the rise of “ 7. You have substantial losses on your tax return If you are a self-employed business owner or independent contractor, it’s normal to file losses on your first few tax returns. A lender may request a letter of explanation to ensure that these losses will not be recurring or affect your ability to make regular mortgage payments.  8. You cosigned a loan In the event that you cosigned a loan, a lender will want a letter of explanation stipulating that you are not the one making the payments. This can apply to student loans, auto loans and mortgages, even for a 9. You opened a new credit account If you open a new credit account while applying for a mortgage loan, a lender may suspect that the debt could affect your ability to repay your loan. Remember that the underwriter will also review your finances during closing, so hold off on opening new lines of credit until the sale is complete, if possible. 10. Your family members are on your bank statements If multiple people appear on your bank statements, like parents or children, you will need to write a letter explaining that you’re in control of the funds being used to pay for your new home. Anyone who helps you with the down payment of the home will also be responsible for writing a gift letter of explanation. 11. Your accounts are under fraud alert A lender will want to know that you’re aware of any suspicious activity on your credit report. If your accounts are under fraud alert or your credit is frozen, prepare a letter of explanation that outlines how you will regain control of your finances. How to write a letter of explanation step by step Before you write a letter of explanation for a mortgage, you’ll need some information first. Some of this you’ll have readily available (like your name), but you might have to gather or research other details, such as specific dates or documentation related to the situation you're explaining. Some of the common pieces of information you’ll need include:  Once you have your personal information on standby, you can construct a thoughtful letter of explanation detailing your circumstances and readiness to be a homeowner. Here is how to write a letter of explanation: Tips for a stronger letter of explanation Writing a letter of explanation can get you one step closer to Letter of explanation sample Keeping your explanation letter short and sweet is key. If you're struggling to write a concise letter of explanation, here is a letter of explanation sample to use as a guide and point of reference Letter of explanation template To make the process even easier, download this free letter of explanation template. Just fill in your information and personalize as needed. Why is a letter of explanation needed for a vacation home mortgage? Lenders may request a letter of explanation to better understand certain aspects of your financial or credit history before approving a vacation home mortgage. This helps them assess your ability to manage the new loan responsibly. Common situations include: If managing multiple mortgages or a high loan balance feels daunting, you may want to explore How does Pacaso help with vacation home financing? Refer back to our free template if you need help preparing an explanation letter for your next real estate purchase. And don’t forget to

What is empty nest syndrome? Empty nest syndrome occurs when parents report the feelings of grief, a loss of purpose, and loneliness after their children move out. While empty nest syndrome isn’t classified as an official health condition, it’s well documented — and very common. It may take some time for parents to adjust to the new normal of no children in the home. For most people, these feelings pass over time as they learn to navigate their new lifestyle.  While entering the empty nest phase of life represents the closing of one chapter, it also ushers in the beginning of another — one with more time to focus on other parts of life, like relationships with partners and friends, hobbies and travel. It also offers an opportunity to get to know grown children as adults, which can be a very rewarding experience in itself. What are the symptoms of empty nest syndrome? While the experience is different for every parent, it’s common to have a variety of emotions during this time:  What is the average age of empty nesters? The average age of empty nesters is typically late 40s to 60s. Unsurprisingly, downsizing homes or moving to a new destination are common real estate activities for people who are no longer actively raising children. Collectively, people in this age range make up 40% of home buyers and sellers, according to the What are the main characteristics of empty nesters? There are over 22 million so-called ‘empty nesters’ in the United States. Many still work full time and often find themselves in a time of financial transition. Some may no longer be financially responsible for the everyday expenses of their children — things like food, clothing and activities — and may find themselves with more disposable income. Others may be responsible  for college tuition, housing, and food while others may be managing increased taxes if they no longer have dependents to claim. What are some tips for empty nesters to make most of this stage of life? Once the dust has settled on the initial transition, usually after two to three months, you may find yourself ready to dive into a new routine. Here are a few tips for transitioning into and enjoying the empty nest stage of life. 1. Practice self care Dedicate time to a new self-care routine. With a newly open calendar, shortened to-do list, and new emotions, now is the time to focus on taking care of your physical and emotional needs. Exercise, sleep, 2. Invest in yourself You likely spent many years prioritizing your kids’ needs over your own, with their activities dominating the family calendar. Once the kids have flown the nest, you might find yourself with more free time than you’re used to. This is the perfect opportunity to 3. Connect with friends An abundance of free time means you can now expand your social horizons. You may want to reconnect with old friends you’ve lost touch with over the years, or seek out new relationships for this new era. Volunteer activities, affinity groups, and community organizations can be great places to find new friends who may be in the same season of life. 4. Get to know your kids as adults Your kids may not be little anymore, but part of the beauty of watching them grow up is the opportunity to know them as adults. This transitional period offers the chance to redefine your relationship and establish new roles and communication norms. 5. Reconnect with your partner In dual-parent families, it’s easy to slip into a routine where your daily and weekly routines revolve around caring for your children. Once your kids move out, it’s an ideal time to rediscover your partner and focus on spending quality time together. Consider 6. Talk to a professional This can be a hard transition for many. If your empty nest syndrome seems to last longer than expected or seriously affects your day-to-day life, it may be time to seek out a therapist or counselor. As an objective third party, a therapist or counselor can provide coping strategies and connect you with helpful resources. 7. Find a change of scenery When the kids have flown the nest, many empty nesters decide it’s the right time to reconsider their living situation. This might include downsizing the family home, renovating or What are some hobbies for empty nesters? Having an empty nest is the perfect opportunity to Why should empty nesters co-own a second home? Co-owning a second home is an ideal next step that fits seamlessly into many house plans for empty nesters ready to embrace freedom and flexibility. Shared ownership provides a practical way to enjoy a luxury vacation home without the full-time responsibilities of maintenance or management. If a second home is on your empty nester bucket list, Pacaso makes it easy to turn that dream into reality with a portfolio of

Whether you dream of a quaint chateau in the Loire Valley or a sun-drenched villa in Provence, buying property in France can be exciting. However, as a foreigner, the differences in property regulations and legalities may seem daunting. Our step-by-step guide covers everything you need to know, from finding the right house to understanding residency requirements. By the end, you’ll be well-equipped to make your French property dream a reality.  1. Pick a region  There are many French regions to explore, each with its own unique charms. From busy cities to the serene countryside, here are a few popular regions for real estate in France:  2. Find the right house Once you've chosen your dream region, the next step is to find the perfect French property. Consider your budget, desired lifestyle and long-term plans when selecting a home. Whether you're looking for a cozy apartment, a spacious family home or you want to To find the right property, you can explore listings online or work with a local real estate agent. For a hassle-free way to buy a second home in France, consider owning a Pacaso second home. Pacaso 3. Make an offer Once you’ve found the ideal Be aware of local customs and negotiation tactics when buying a house in France. A local real estate agent can guide you or 4. Do your due diligence Once your offer is accepted, be sure to conduct thorough due diligence to ensure a smooth transaction. This involves hiring a French notary who will handle the legal aspects of the purchase. The notary will draft a It’s wise to meet with a French attorney to review the 5. Get financing Securing financing for a foreign property can be complex. Traditional lenders may have specific requirements and limitations for international real estate purchases. To simplify the process, consider working with a company like Pacaso. They can handle the financing aspect of If you plan to explore traditional financing options, research international mortgage lenders specializing in French property. Be prepared to provide additional documentation, such as proof of income and assets, to qualify for a loan. 6. Pay a deposit  After the Keep in mind that this deposit is usually non-refundable, so make sure you’re confident in your decision before signing the 7. Transfer ownership Once all the necessary paperwork is completed, the final step is to transfer ownership of the property to your name, a process known as After signing the Why buy real estate in France Can Americans buy property in France? Yes, Americans can buy property in France. While there are certain legal and tax considerations to be aware of, buying real estate in France as a foreigner is permitted. It's wise to work with qualified professionals, such as a French notary and an attorney, to ensure compliance with all regulations as you walk through the buying process.  How much does it cost to buy French properties? The cost of buying a property in France depends on the region, property type and size. Here's a breakdown of the factors influencing overall cost: Average price of properties in France  Properties in popular regions like Paris, Lyon and Bordeaux tend to be more expensive than those in less sought-after areas. In 2024, the Taxes and fees   In addition to the purchase price, there are various taxes and fees associated with buying a home in France:  French real estate scams to avoid  While owning property in France can be a rewarding experience, you should also be aware of common real estate scams. Watch out for:  Make buying property in France easy with Pacaso By following these steps, you can successfully navigate how to buy a house in France. If you’re not ready to commit to a full-time move, consider co-owning a Pacaso second home. When you co-own a vacation home, you can simplify the home buying process and enjoy hassle-free ownership of your French property. 

Here’s everything you need to know about how to sell your Pacaso, what to expect along the way, and how the process compares to a traditional real estate sale. What is a Pacaso resale? A Pacaso resale occurs when an existing owner sells their ownership interest in a Pacaso home to a new buyer. While this differs from purchasing a new Pacaso share at initial launch, the ownership structure remains the same. All Because of this model, selling a Pacaso share is simpler than selling a traditional home. There’s no need for staging, showings, or home prep, no due diligence period, and no title or escrow process. Ownership is reassigned through the LLC, allowing for faster, more streamlined closings. Resales are a built-in feature of Pacaso’s How does the Pacaso resale process work? What does Pacaso’s role in the resale look like? Pacaso facilitates the resale process by helping source buyers, coordinating marketing efforts, and managing the administrative and legal steps required to complete the transaction. This support significantly reduces the friction typically associated with selling real estate. How long does a Pacaso resale take? Pacaso homes typically close much faster than traditional home sales.  Factors such as buyer financing and market demand may influence the exact timeline. How has Pacaso resale performed? According to RCLCO’s findings, from 2021 through 2024, shares of Pacaso homes achieved an average Compound Annual Growth Rate (CAGR) of 9.7%—4.7% higher than traditional luxury homes in the same markets. In several luxury destinations, from California to the Carolinas, Pacaso resales have consistently outperformed regional averages. From 2021 through 2024, Pacaso share appreciation exceeded market benchmarks in each destination, with Pacaso resales averaging a 10% overall gain. What are the fees and costs associated with a Pacaso resale? Compared to traditional real estate, resale-related costs are streamlined. Overall, the Pacaso resale process eliminates many of the unpredictable expenses associated with selling a traditional home. What are tax considerations for Pacaso resales? Selling a Pacaso share may result in capital gains, depending on your individual situation. Because Pacaso resales involve the transfer of an LLC membership interest rather than a traditional deeded sale, tax treatment may differ from a standard home sale. This information is provided for general guidance only. Owners should consult a qualified tax professional to understand how a Pacaso resale may impact their personal tax situation. What are other options for Pacaso owners? If your needs change, selling your entire share isn’t your only option. Owners who find they’re using less time than anticipated can right-size their ownership by selling a portion of their interest. A selldown follows the same process as a resale, allowing you to retain partial ownership while freeing up capital and flexibility. Is Pacaso a good investment? On average, Pacaso homes have appreciated in value, often outperforming traditional luxury homes in their markets. With a built-in resale marketplace and streamlined ownership transfer through the LLC, selling a Pacaso share is faster and simpler than a traditional second home, providing liquidity and flexibility. Beyond potential financial gains, owners enjoy a So, is Pacaso a good investment? Absolutely, for buyers who value both lifestyle and potential financial return.  A flexible, transparent way to sell Pacaso gives owners an exceptional level of flexibility, control, and peace of mind when it comes time to sell. With a built-in marketplace, professional marketing support, and a simplified transaction process, reselling Pacaso shares is designed to be as effortless as ownership itself.

Understanding the different types of interior design can make decorating a home feel far less overwhelming. While design decisions can seem daunting at first, a little research and a grasp of foundational interior design principles can go a long way. With the right approach, you may be surprised at how confidently you can bring a dream room, dream home, or dream Use this guide to understand the seven elements of interior design, and discover the home design trends shaping 2026, with insights from Pacaso designers to inspire your next space. The 7 elements of interior design explained If you’re wondering how to decorate a new home or how to update an existing space, the best place to start is with the basic elements of interior design. Understanding these elements gives you the foundation to design any space with intention and confidence. These core principles help bring balance, function, and personality to a room, regardless of the types of interior design you’re drawn to or plan to incorporate.  Below are seven essential elements to keep in mind as you create a cohesive, thoughtfully designed space. 5 trending interior design styles for 2026 With so many emerging home design trends, it can be difficult to decide how to decorate a new home. While personal taste should always lead the way, certain types of interior design continue to stand out for their popularity and staying power. To better understand the types of interior design gaining momentum this year, we spoke with Pacaso’s interior design professionals, Kyra Edwards and Camille Selis for their expert perspective on the home trends and design styles shaping homes in 2026. 1. Color-forward Color-forward interior design embraces rich, earthy hues and immersive palettes to create emotionally resonant spaces. In 2026, designers are moving away from safe neutrals and cool greys in favor of deeper, grounding tones like ochre, olive, earthy greens, muddy blues, rich plums, and terracotta-inspired red-oranges. This style often incorporates color-drenching — where walls, ceilings, trim, and even furniture share a cohesive hue — resulting in spaces that feel bold, intentional, and deeply atmospheric rather than decorative. 2. Textured maximalism & “livable luxury” As stark minimalism fades, textured maximalism is emerging as one of the more welcoming types of interior design, blending warmth, comfort, and layered design. These interiors balance richness with restraint, pairing mixed textures and patterns with timeless, high-quality furnishings. Often described as “liveable luxury,” this style prioritizes craftsmanship, comfort, and longevity over flash or trend-driven decor. The result is a space that feels curated and refined, yet relaxed enough for everyday living – perfect for vacation home design. 3. Organic & sculptural design Organic and sculptural interior design emphasizes soft forms, flowing silhouettes, and natural materials. Furniture and decor feature curved edges, irregular contours, and handcrafted details that feel tactile and grounded. Materials like wood, stone, rattan, and clay anchor these spaces, celebrating visible grain and natural imperfections. This approach brings a sense of calm and movement, creating interiors that feel both modern and deeply connected to nature. 4. Heritage & character-filled interiors Heritage-inspired interiors focus on storytelling, individuality, and craftsmanship. Rather than uniform or mass-produced décor, these spaces feel layered and personal, incorporating antiques, vintage finds, and artisanal details. This style reflects a growing desire for homes that feel collected over time. It favors authenticity and character over perfection, creating interiors that feel meaningful and distinctly personal. 5. Intentional, wellness-driven spaces In 2026, interior design is increasingly focused on how a space makes you feel, not just how it looks. Intentional interiors are designed around wellness, comfort, and flexibility, supporting real life through thoughtful layouts and purposeful zones. These spaces often include cozy reading nooks, adaptable rooms, and layered lighting to create a calming, restorative atmosphere. Every element serves both function and mood. Other types of interior design Trends come and go, but discovering an interior design style that reflects your personal taste and stands the test of time is key to creating a space that feels like home. These timeless interior design styles offer inspiration for spaces you’ll love for years to come, whether in your primary residence or second home. Bohemian style, often shortened as “boho,” pulls together a variety of textures and patterns to create an effortless look.  While boho interiors mix bold patterns, they’re grounded by key neutrals with simple pops of color. There’s a lot of texture in boho style, often using materials like rattan which adds a unique look that doesn’t clash with bold patterns. 2. Cottage Cottage interiors combine classic and rustic features to evoke a simpler time, making this style perfect for a second home. Features like wood furnishings and natural stone help pull cottage spaces together, but you can transform any space into a cottage with details like handmade textiles or vintage furniture. 3. Mid-Century Modern Mid-Century Modern design is one of the more well-known home design trends that’s persisted over the decades. Characterized by its mix of lines and soft forms, it shows what people thought the future would look like, making this a timeless choice. Choose bold Mid-Century Modern furniture and blend other types of interior design into your decor to keep the perfect balance of old and new. 4. Coastal Coastal style is a popular choice for coastal or The key here is to lean into aquatic-themed decor so you always feel the same peace of lounging by the waves, even if the sand’s not right on your doorstep. 5. Art Deco Art deco is characterized by its use of geometric patterns, jewel tones and accentuating lines. It’s common to fill the space with many statement pieces by using their similar patterns to tie an interior together. Another distinctive feature is interesting lighting like geometric chandeliers or floor lamps. While many interiors are colorful, they’ll usually stick to just one contrasting color to keep the color from overwhelming the space. 6. Minimalist This type of interior design is characterized by bright spaces, simple decor and open concept interiors. Usually, these interiors are mostly white to maintain a clean look. The minimalist style is about keeping things simple, so less is truly more. Your space doesn’t need to be completely devoid of decor, but it shouldn’t feel cluttered. Focus on creating clean lines so there’s nothing to distract you from your peace. 7. Modern Modern interior design has a lot of similarities to minimalism, but it typically features more decor and pops of color. It still has the clean, bright feel of a minimalist space, but the inclusion of some more decor can help it feel more like home for people who aren't ready to commit to a minimalist lifestyle. Still, 8. Traditional The traditional style has remained one of the most popular types of interior design for centuries. It draws inspiration from European elements such as rich textiles and carved wood. Many home design elements that come from traditional interior design — like crown molding — are desirable for any homeowner. These interiors feature an array of textures, from grand window furnishings to detailed woodwork. Choose furniture that showcases wood grain in rich tones to keep this style feeling cozy and personal. 9. Transitional Transitional interior design warms up modern design with its traditional influences. Spaces like this typically feature traditional style furniture. Then, the style is elevated with modern touches like geometric lamps or a gallery wall. Transitional interiors often use neutral tones and muted color palettes. 10. French Country French country interior design combines rococo and rustic design, which were the two most popular styles from 17th- and 18th-century France. Rococo design features pastels for a lighthearted extravagance, while rustic design features lots of dark wood and rich furnishings like furs. As a result, French country is known for its mix of dark wood furnishings and pastel textiles. You’ll often see delicate patterns, such as florals contrasted against darker furnished features. 11. Scandinavian Scandinavian interior design style has its roots throughout Scandinavia but is usually attributed to the Danish Selskabet for Dekorativ Kunst — or the Danish Company for Decorative Arts. Scandinavian style is a twist on modern design that adds some organic elements. This type of interior design departs from the elements that can make the modern style feel sterile to some people. Liven up your Scandinavian space by integrating natural materials like rattan and rich textures like a faux fur throw. Another key feature of Scandinavian design is its use of color; muted colors like mauves and olive greens are common. 12. Industrial Industrial design is characterized by exposed wood, brick and metal elements with little color. It works well in open or lofted spaces with large windows and lots of natural light. Industrial design mixes a vintage and modern feel. Its furniture and accessories typically have modern shapes but vintage-feeling materials like unpolished metal or 13. Eclectic Eclectic design refers to spaces that take influence from multiple design styles. While it originally referred to combining more traditional styles, many people add modern touches to their eclectic designs. Eclectic interior design is all about building your ideal space, so feel free to play around and choose your favorite characteristics of multiple styles to 14. Modern Farmhouse As the name suggests, modern farmhouse style combines elements from both the cottage and modern styles. It brings all of the traditional comfort and coziness and adds a modern twist, integrating clean lined and a bright feel. This style bridges the gap for people who find modern design too clinical and farmhouse design too traditional for their tastes. Whether you’re styling your primary or secondary home, it’s important to have a space where you can relax and enjoy yourself. Exploring the different types of interior design and discovering what resonates with you is just one way to Pacaso’s approach to interior design Thanks to Pacaso’s team of designers, each Pacaso home is expertly designed and furnished to strike the perfect balance between trend-forward style and timeless appeal. While it reflects the latest home trends and design standards trends, it also maintains enduring elegance and comfort, ensuring your home looks beautiful today and continues to feel fresh for years to come.  The Pacaso home design process With Pacaso, there is no need to worry about how to decorate a new home. Pacaso’s in‑house design team takes a holistic and highly intentional approach to This thoughtful approach ensures that every Pacaso home feels relaxing, cohesive, and uniquely tailored to its setting, so owners can step inside and instantly feel at ease.  Design Certified  Every Pacaso home is Designing your home in your preferred style Discovering your unique interior design style is an exciting journey, but creating a cohesive, beautifully curated home often requires an understanding of the types of interior design, thoughtful planning — and often, professional guidance. Working with an If you’re considering a second home, innovative solutions like Pacaso’s Explore Pacaso’s

A turnkey home is a fully move-in-ready property without hassle. The phrase “turn the key” is literal: you step inside, drop your bags and settle in. No need for contractors, material decisions or waiting months for updates.  When buyers ask what a turnkey home entails, they’re usually trying to understand whether a house truly requires zero renovation work before it’s livable. While typical turnkey properties aren’t automatically furnished, many homes in How turnkey homes work for second-home buyers Turnkey homes offer unique value for second-home buyers, especially those For And because everything is finished before closing, you experience faster access to the lifestyle you’re working toward, like meaningful time with family, stress-free travel and comfortable stays throughout the year. What’s included in a turnkey home While every property is different, most turnkey homes share a set of core qualities. These features give buyers confidence that they won’t need to make immediate repairs or updates. Here’s what’s usually included in a turnkey home: In Together, these features make it possible to start living in the home right away, with little to no prep work on your part. Pros of buying a turnkey home Turnkey homes are appealing for many reasons. They offer an experience built on convenience, comfort, and clarity. Here are some of the benefits of buying a turnkey home: For second-home buyers, the ability to enjoy your home immediately without stress or delays is often the biggest advantage. Cons of buying a turnkey home Turnkey homes also have a few trade-offs, especially if customization or cost savings are top priorities. Here’s what you’ll need to look out for when buying turnkey properties: A turnkey property should offer genuine readiness. The proper documentation will help you confirm that. Who is a turnkey home right for Turnkey homes are an excellent fit for buyers who want to spend less time coordinating projects and more time actually enjoying their home. They’re especially appealing to people with full schedules who prefer a space that’s fully prepared from day one. Out-of-state and On the other hand, buyers who love hands-on customization or who enjoy shaping a property to their exact preferences may feel limited by a home that’s already completed. Those who thrive on renovation projects often find a fixer-upper more satisfying. These buyers typically prioritize the control and potential transformation that come with renovating, while turnkey buyers prioritize convenience, predictability and immediate comfort. What to consider before buying a turnkey home Before buying a turnkey home, it’s important to take a thoughtful look at the property’s quality, history and documentation so you know exactly what “move-in ready” truly means. Even when a home is labeled turnkey property or turnkey home in real estate listings, the level of work completed can vary widely, so due diligence is essential. Questions to ask the builder or seller When evaluating what is included in a turnkey home, ask the builder or seller detailed questions to better understand the scope and quality of updates. Confirm whether improvements were cosmetic or structural, how recently they were completed and whether licensed contractors performed the work.  Here are some questions to ask during the walkthrough: How to verify a listing is truly move-in ready To verify that a listing is genuinely turnkey, request documentation that reflects the quality of the work. This may include inspection reports, permits for structural changes, receipts from contractors or proof of recent servicing for major systems.  A true turnkey property will have consistent updates across the home, modern mechanical systems and completed spaces with no unfinished rooms or outdated features. When inspecting the home, pay attention to common signs that the home isn’t fully turnkey, such as mismatched finishes, older electrical panels, aging HVAC units or partially updated kitchens and bathrooms. Cost expectations for turnkey homes Turnkey homes often come with a higher upfront purchase price because the improvements, design work and system updates have already been completed for you. However, buyers typically save money and time by avoiding renovation expenses, travel for project oversight and the unpredictable costs that come with fixer-uppers.  Turnkey home vs. fixer-upper: what’s the difference? A turnkey home is all about readiness. It’s complete, polished and requires no immediate work. A fixer-upper, on the other hand, is a property that needs renovation, repair or modernization before it feels complete. Turnkey homes streamline the experience from day one, allowing buyers to arrive and enjoy their As you compare your options, weigh the immediate convenience and clarity of a turnkey home against the potentially lower upfront cost of a home that requires additional work. For many second-home buyers looking for ease, speed and comfort, the turnkey route offers a smoother path into ownership. How to find a turnkey home  Turnkey homes are especially common in second-home markets and desirable Pacaso offers Find your turnkey home with Pacaso Pacaso simplifies second home ownership by offering Whether you’re right-sizing your time away or exploring new destinations, Pacaso makes second-home living more seamless, ensuring your turnkey home is ready from the moment you walk in the door. 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Frequent travelers understand the importance of consistency and convenience, and therefore often turn to vacation clubs and co-ownership programs, such as However, due to their structure, pricing varies significantly. This guide breaks down everything you need to know about the two travel models, allowing you to choose the one that’s right for you, and explains why Pasco may be an even smarter option. How does Equity Estates work? Equity Estates is an investor-owned luxury vacation club that operates differently from a traditional timeshare. Members invest in an Equity Estates fund that purchases and manages a portfolio of high-end vacation homes, giving them access to stay at properties around the world without the responsibilities of direct ownership. Property management, maintenance, and concierge services are included. Unlike traditional timeshares, where members pay for usage without building equity, Equity Estates members own a share of the underlying real estate. At a defined liquidity date, the properties are sold, and investors receive 100% of their initial capital back plus 80% of the profits. This structure allows members to enjoy luxury vacations while also benefiting from the long-term value of the real estate they help fund.  Properties and destinations During the years between investment and disbursement, investors enjoy access to over 60 destinations across more than 25 countries. The properties are private, luxury homes valued between $2 million and $6.5 million, offering amenities such as oceanfront views, ski-in/ski-out access, swimming pools, and private club access. Access Depending on the level of investment, members receive a set number of nights per year that can be used across the entire portfolio. This structure allows for longer stays in a single destination or the flexibility to explore multiple locations.  Pricing is not publicly available for Equity Estate’s investment tiers, so unfortunately, potential investors can’t compare costs upfront. However, Equity Estates promises better availability than timeshares, as homes are exclusively available to investors, thereby limiting overall competition. Equity Estate reviews Equity Estates fund reviews have an overall rating of 4.9 on Trustpilot, with a total of 432 reviews. Customers most praise the staff for being attentive and helpful, with There are very few negative Equity Estates reviews on How does Inspirato work?  Inspirato operates on a subscription model with two ways to access its luxury vacation homes: Inspirato Club and Inspirato Pass. Inspirato Club requires a one-time initiation fee plus annual dues, while Inspirato Pass offers a flat annual subscription fee. Both options provide members with access to Inspirato’s curated collection of luxury vacation homes.  Here’s a breakdown of Inspirato’s two primary subscription models: The Inspirato Pass The Inspirato Pass is the company’s core all-inclusive offering and costs $40,000 annually. Members can choose from numerous Pass Trips, with all nightly rates, taxes and fees included. And it’s not just homes. You can also stay at an unlimited number of eligible hotels, resorts, cruises, safaris and guided tours. With an Inspirato Pass membership, travelers can reserve up to two trips at once, making it a good fit for those who want to travel frequently without committing to long-term planning or complex booking rules. Inspirato Club The Inspirato Club has a one-time initiation fee of $15,000 and $6,000 annually in dues, starting in the second year. Travelers gain access to the Inspirato Collection of properties and experiences, featuring members-only nightly rates and personalized travel planning assistance.  Unlike the fully inclusive Inspirato Pass, Inspirato Club members need to pay fees for each stay, and membership grants them access to members-only benefits, discounted stays and concierge support. Inspirato reviews Inspirato has a 2.3 total rating on Trustpilot, based on six total customer reviews. Inspirato’s negative reviews mention issues with canceling their subscription, stating that the company has strict refund rules, alongside limited availability. “Inspirato was great when we first signed up. They ended up changing a lot of things, which lost the value of the Pass. When we attempted to cancel, we had to wait 30 days, which is fine but…they're still charging me, and it's been 60 days and $5k later after those 30 days. They keep saying they're going to cancel and refund, but they have yet to.” Which option is right for you?  When it comes to Equity Estates vs. Inspirato, choose Equity Estates if you spend significant amounts of money each year on travel and want to see some return on your spend. Consider going with Inspirato if you want broad access to a portfolio of luxury accommodations without the full commitment of a buy-in.  If you’re wondering, is Inspirato worth it, considering Equity Estate’s high reputation, here’s a comparative list of pros and cons to make the best choice: Equity Estates pros and cons Inspirato pros and cons Alternative: Get to know Pacaso Instead of weighing Equity Estates vs. Inspirato, consider a third option, Pacaso. Our Pacaso makes it easy to own a second luxury home in a coveted destination, with properties available throughout the U.S. and in select international markets. From sunny villas in Every Pacaso home is fully managed, professionally designed and ready for you to enjoy, with equitable scheduling among owners. Co-owners purchase shares in a property-specific LLC, and when you’re ready, you can sell your share to realize any returns on your property.  Comparing Pacaso and Inspirato Pacaso, Pacaso has additional advantages over Inspirato:  An owner’s view of the differences Pacaso owner Mark also has an Inspirato membership. While he uses his Inspirato to “fill the gap” when he wants variety in destinations, he says he loves that his Pacaso gives him true ownership in a destination he loves.  “We’re kind of creatures of habit,” Mark said. “We like to go back to the same place that we know. We know it’s going to be quality. We get to know people in the community … it’s a totally different animal, and we prefer having the house.”   Own your vacation destination

Searching for a place to unwind, reconnect with loved ones and create lasting memories? Here are 10 reasons why a second home might be the perfect purchase for you, alongside key considerations that can help you make the right choice. 1. Enjoy your own personal retreat 2. Have flexibility for your vacations With a vacation home, you no longer need to fight for reservations during peak season or scramble to find last-minute Do you need a quick weekend escape to clear your head? Or a 3. Build a lifetime of memories A vacation home transcends bricks and mortar — it becomes a cornerstone for creating cherished memories with the people you love. Host unforgettable holidays and family gatherings to create lifelong memories.  Imagine cozy nights by the fireplace at your 4. Relish familiar settings Owning a vacation homes has the benefit of being your home-away-from-home. Equip your space with 5. Embrace a new community Purchasing a vacation home can open doors to a new community. Strike up conversations with friendly neighbors who share a love for the area. Explore local shops and restaurants, gaining a deeper understanding of the region's culture and hidden gems. This sense of belonging can enrich your vacation experiences and grow your sense of community at your second home. 6. Cultivate a sense of adventure A vacation home can serve as a springboard for exploration. Since you have a convenient home base, you can delve deeper into the surrounding area. Explore nearby towns, hike or bike scenic trails or discover hidden Proximity to these activities allows you to embrace a more adventurous spirit and enjoy experiences beyond the typical tourist’s itinerary. 7. Create a healthier lifestyle A vacation home can be a catalyst for embracing a healthier way of living. Many vacation destinations offer opportunities for Inside you vacation home, consider creating a dedicated 8. Pass down an asset to your children A vacation home can become a cherished part of your family's legacy. It can be a gathering place for future generations to reconnect with loved ones and create lasting memories.  Eventually, you can pass vacation homes down as an inheritance. A valuable asset like this can give your children and grandchildren a special connection to their family history. 9. Choose a location close to activities you love Finding a second home in a place that supports  your interests and hobbies can significantly enhance your lifestyle. Imagine living by a lake and spending your weekends fishing, or owning beach house with nearby easy access to kayaking or paddleboarding. For those who crave the thrill of winter sports or the serenity of mountain hikes, a cozy cabin could be the perfect fit. 10. Take advantage of unique financing options When buying a vacation home, you can access Additionally, your vacation home expenses don’t end with the Advantages of vacation homes Although owning a second home has some down sides, the advantages can greatly outweigh the trouble of finding and financing a vacation home. The pros of owning a second home or Personal use When you own your vacation accommodations, you always have a great place to stay (even if it’s a busy holiday weekend). You can keep all the comforts and necessities — clothes, toiletries, outdoor gear and more — at your vacation home so you can get away from it all at a moment’s notice. Unlike relying on reviews to choose a hotel room or short-term rental, you always know exactly what to expect when you arrive at your vacation home. Buying Your vacation home could become your primary residence once you retire, but you can start enjoying it and building equity long before it’s time to turn in your employee badge. In the meantime, it’s a special place to bring family together for vacations and special events. You can also pass down your vacation home to your heirs. Passive income potential Although some owners prefer to keep their vacation home exclusively for personal use, listing your second home as a short-term rental may also be possible. If you don’t want your vacation home to sit vacant when you’re not using it, you may be able to rent it out to others and use the money toward the mortgage and maintenance expenses. Potential property appreciation Whether you plan to keep your vacation home for personal use or earn passive income, your property may increase in value. A secondary residence can increase equity and value appreciation like a primary residence.  In this way, buying a vacation home can be an investment. Of course, housing markets fluctuate, so value appreciation depends on market trends where you buy. Adding real estate to your portfolio is a great way to diversify your portfolio and hedge against the ebb and flow of different markets. It’s always smart to consult a financial planner before making such an investment.  Tax benefits You can deduct any mortgage interest paid on up to $750,000 of principal mortgage debt, including your vacation home. Other If your vacation home doubles as a short-term or long-term rental, you may also be able to claim certain costs as business expenses for your vacation rental business. Consult with a tax professional to determine which  tax deductions you’ll be eligible for. Challenges of vacation homes Vacation home ownership also includes several challenging cons. Property maintenance and management Your second home likely won’t be close enough to your primary residence for you to stop by frequently. Home repairs and regular maintenance (lawn mowing, snow removal, etc.) can become a hassle. And if you’re renting out your second home, you must deal with reservations, clean up and more.  A potential solution is to Income volatility If you plan to rent out your vacation property, you’ll need to be aware of the high and low tourist seasons in your home’s locale. Plan for income fluctuations and charge appropriate nightly rates to curb potential low-season vacancies.  To keep attracting bookings, you may need to pay for marketing and advertising your property to help decrease income volatility. Local vacation rental laws Many towns are passing ordinances that prohibit short-term rentals or require homeowners to pay hefty fees to list their homes as rentals. Check local laws before banking on your ability to rent out your vacation home. Remember that other Limited location Once you invest in a vacation home, you’ll probably want to use it as much as possible. That means you’ll likely spend more time in one Just like an unused gym membership or a new dress in the back of the closet, a distant vacation home can easily turn from a dream come true into a money pit if you’re not committed to using it regularly. Key things to consider before buying a vacation home Buying a vacation home is an exciting endeavor, but it’s essential to consider additional factors to make an informed decision. Getting clear on your preferences, as well as the property’s unique requirements, will give you an accurate sense of the actual cost and time commitment required for your second home. Your annual budget and total cost of ownership The total cost of a property doesn’t stop at the mortgage. You will need to consider ongoing expenses such as taxes, insurance, utilities, HOA fees and repairs. To predict future maintenance expenses, use the 1% rule, which recommends that homeowners set aside 1% of their home’s purchase value annually.  For example, if you plan on buying a vacation home for $1 million, estimate $10,000 for future repairs each year. Consider setting aside 2% or 3% for mountain or coastal homes, which often come with higher material costs and are more vulnerable to climate-related exposure. How often you’ll realistically use the home To determine if vacation rentals are a good investment, you’ll need to know how much time you plan to spend in yours. The frequency in which you plan to visit your second home determines its value.  For example, if you spend 5 nights in a vacation home that costs $30,000 annually, you’re paying $6,000 a night for the privilege. If you plan to stay 40 nights per year, the nightly cost drops to $750. Your overall availability and proximity to the property greatly affect your ability to spend time in it, so be mindful of your work and life commitments beforehand. Whether renting it out is a priority Renting your home can bring in additional income, but it’s important to know if there’s demand in the area. If planning to rent in the short term, check and make sure that’s allowed in your city, county and HOA. To estimate potential earnings, consider the rates of other rentals, especially noting if prices peak during high season or remain strong year-round.   Local regulations and rental restrictions Zoning laws may place certain conditions on your home and affect how you rent it, or let you know if renting is even allowed in your area. Homeowners associations may restrict how and when your property can be rented, or may ban short-term rentals altogether. Review any city ordinances and HOA documents for the most up-to-date zoning codes. Financing options and long-term affordability It’s typically harder to finance a vacation home because second homes are treated as higher risk, and interest rates may be Be sure to prepare for these expenses in advance to stay on budget. If high upfront costs deter you from buying a vacation home, consider a co-ownership model like Whether full ownership or co-ownership fits your goals Deciding between full or co-ownership of a property boils down to how much time you’ll spend there. Full ownership means you’re responsible for all the finances and labor of a vacation home, so it’s best to be on-site more often.  Pacso co-ownership spreads financial obligations across multiple residents and offers Co-own a vacation home with Pacaso While there are nearly a dozen reasons to buy a vacation home, the initial cost and ongoing maintenance can be daunting. Pacaso offers a unique With Pacaso, you can co-own a DISCLAIMER: This content is published solely for informational purposes and isn’t intended to be investment advice. You should consult an appropriate professional for specific advice tailored to your situation.