At one time second homes were the exclusive realm of the rich. However, in recent years many middle -income families have purchased vacation homes, even it is only a cabin in the woods. Spurred by the need to get away from the crowding of cities and lured by the thought of acquiring some potentially valuable land, many have spent the time and money to buy these second properties.
Often you can rent out a second or vacation home. The tax laws are written in such a way that if you rent out the property and use it as an income property or not rent it and use it as a second home. You will want to consult your tax specialist to see what is best for your situation.
Second Homes in Sunriver have been extremely popular for the last several years. Sunriver, Eagle Crest and Black Butte have been the 3 most well known resorts to purchase a second home in. Today, there are many more to choose from to name a few; Caldera Springs, Brasada Ranch which have beautiful homes and great locations to purchase your second home or vacation home. New resorts are showing up throughout the Central Oregon area.