A great many years ago, it wasn't that difficult to own a "beach shack" as a second home. Modern transportation has changed that dramatically. Where the beach shack used to be cheap because it took so long to drive the narrow roads to reach it, the land where the shack used to be is now generally easily accessed by freeways and highways. In short, people can live there and commute to work.

So the vacation home is either a remarkable luxury, available only to the very wealthy, or a home in a distant location that is still difficult to reach. The latter vacation home still exists, by the way. It may be in a different state, or near a mountain lake, or in the beauty of a desert. It just takes research to find it...and it should be purchased with all the care that is normally devoted to the purchase of a primary residence.

Unless it is primarily a rental unit for its owner, the vacation home is most likely the owner's "second home." A rental unit is usually in a more popular area with easier access and great appeal. There are usually firms that handle the renting and upkeep of the unit, though the owner may stay there for a limited time each year, ostensibly to do repair work (and to get in a little skiing or sailing as well). The second home, though, is almost always available−-a retreat that may someday become the owner's primary residence. Both options are well worth exploring with your real estate and tax advisors. Just call Beth at (425) 450-5208 and visit her website at www.bethbillington.com.

Beth Billington is a Realtor® with Coldwell Banker Bain in Bellevue, WA.