Some people buy a vacation home with the idea of turning it into a permanent retirement home down the road, which puts them ahead on their payments. Another benefit is that the interest and property taxes are tax deductible, which helps to offset the cost of paying for a second home. A vacation home also can be depreciated if you live in it less than 14 days a year.
Many utilities offer incentives to homeowners who make improvements that save energy. Contact your utility company to determine if you’re eligible for a low-interest loan or discount for replacing your windows and doors. Ask about energy-efficient insulating features such as argon gas between the panes of glass and a Low-E coating.