Two Houses Can Be Better Than One (NAPSA)—Realtors report that approximately six percent of all residential transactions are for homes that will not be primary residences. That’s well over 400,000 people buying homes to supplement their primary residence every year. There are several reasons more and more homeowners believe that two (or three or four) homes are better than one and often they have nothing to do with leisure. Somepeople buy that extra home more for shelter from the economy than for shelter from the elements. With many companies downsizing, it’s not uncommon for employees to work in twooffices in different locations. Regardless of the reasons for additional homes, buying one can differ considerably from the purchase of a primary residence. First, there’s the difference in real estate markets. What your money will buy in one market could be a lot less, or more, than what it will buy in anotherpart of the country. Different states also have differing regulations governing the home-buyingprocess, from agency laws to financingto closing. The things you look for in a second homewill be different from what you take into consideration ‘REBAC, @ in the purchase of a primary residence. If the second homeis in an area you know little about, that adds another level of complexity, requiring information about neighborhoods, types of available properties and special zoning considerations. Making this formidable task more manageable takes professional assistance, and that’s avail- able anywherein the country from the over 40,000 members of the Real Estate Buyers Agent Council, Inc. (REBAC). This Realtor-affili- ated organization awards the Accredited Buyer Representative (ABR) designation to members who have undertaken specialized training, and also demonstrate their professionalism and experience. To find an ABR in the market where you're looking for that second home—or first—and to receive a copy of REBAC’s Home Buyer’s Kit, a comprehensive how-to on the entire home-buying process, call 800-648-6224.
