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Tag: Secondary Property

Person holding scales with two connected houses representing primary and secondary residences

Understanding Vacation Homes: Definition, Classification, Tax Implications, and Financial Considerations

September 4, 2025 FinanceFacts101 Real Estate

What Is a Vacation Home? A vacation home, also known as a secondary residence or recreational property, is a dwelling separate from the primary residence of an individual. These properties are typically located in different areas and serve mainly for leisure purposes, including vacations. The distinction between primary residences and

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