It's that time of year where people start thinking about vacations and the possibility of buying that second home somewhere tropical. Bill Furlong, Vice President of Americas at HomeAway, joins Your Future Home to give a few tips on how to settle on the perfect second home.
Furlong says that people look for different amenities in a second home and some of them are little more fun than what they would prefer in the main house. Perhaps they want a pool or a hot tub. Some even splurge for an in-home theater or putting green. He says the average person spends around $330,000 on a second home and may rent it out during certain weeks of the year.
Plus, before purchasing a second home you need to consider the costs. Furlong says you'll need to budget for new furniture, upkeep, repairs, taxes and seasonal implications such as weatherproofing and lawn care.
Matthew Frankel, certified financial planner and contributing analyst with The Motley Fool, joined Cheddar News to discuss what the IRS' guidance is on state stimulus payments.
Nick Hanigan, Executive Director & Development Manager at Paspaley Pearls Properties, joins Cheddar News' Hena Doba on a Walk and Talk to check out The Wall Street Hotel's latest innovations in the heart of the historic financial district.
Wall Street closed higher as traders made their final moves in anticipation of a report that could show whether inflation is cooling in the right way or setting the market up for worse pain.
