Seasonal Migration; Not Just for The Birds

As the weather takes a turn for the worse, the thought of getting away to a warmer climate becomes more appealing. The term “snowbird” is often used to describe those who migrate from colder climates to sunny locations for extended periods each year. Becoming a snowbird and owning a home in another state can provide more than just a respite from the cold. Read on for more about the benefits of being a snowbird.

Making the Purchase

Many people are surprised to find that purchasing a second home is very similar to purchasing a primary residence. One difference is that with a primary home, the down payment often comes from the sale proceeds of a previous home. So where do the funds come from for a second home? Don’t overlook the equity in your current home when thinking about your next purchase. Cambria® Mortgage™ can help you asses your options and find a program that uses your assets to your advantage. One of the best things to do is to talk to your mortgage consultant early in the process, even before you begin your search. This way, your mortgage consultant can help you become familiar with the process and programs available so that you can enjoy your search and find your perfect getaway.

Financial Benefits

Besides the potential tax benefits, there is also the ability to rent your second home when you are not using it. Right now, many services are available for you to find renters and create some additional income to offset the added mortgage. Make sure you think about things like location, access, and appeal to renters when looking at properties if this will be part of your plan. Also, work with your tax advisor to fully understand the tax implications of purchasing and renting out your second home.

Don’t Overlook the ‘Other’ Benefits

While there are often financial benefits of owning a second home, don’t overlook the mental and physical benefits of being a snowbird. With the better weather, it affords you the opportunity to remain active with activities like golf, tennis, and walking. Being away from the snow and ice also limits the chances of falling and injuring yourself. Not to mention the bonus of no more snow removal!

Call Cambria Mortgage

To get started, call Cambria Mortgage at 952-942-0110 or visit CambriaMortgage.com. Our team of experts will provide personal, hometown service with sound advice and impeccable attention to detail at every step of the process.

Ready for a Retreat? Tips for Purchasing a Second Home

When summer finally hits and you start to dream of getting away on the weekends, it might be time to start looking at purchasing a second home. There are many reasons to purchase a second home and only some of them are financial, however, those reasons should not be overlooked.

Smart Ideas for Staying Warm: 5 Ways to Reduce Your Winter Energy Bill

If you’ve ever received a letter from your local energy company comparing your energy usage to your neighbors, you’ve probably wondered what you could be doing differently to save money. Here are five tips to help you reduce your energy costs while staying warm this winter.

5 Common Mortgage Myths: Get the Truth from Cambria Mortgage

The idea of getting a home mortgage loan can be daunting, especially if you’re a first-time homebuyer. The good news is that many long-held beliefs about mortgages are no longer true. Here, the experts at Cambria Mortgage explain some of the most common misconceptions.

Vacation Homes: How to Buy a Piece of Paradise

Do you find yourself returning to the same pristine lake every summer, wishing you owned your own piece of paradise? If so, it might be time to listen to your heart and consider buying a cabin or other vacation home. We asked Matt Helling, Vice President of Sales and Operations at Cambria Mortgage, for his advice and insights.

Ready. Set. Entertain! Tips for a Stress-Free Holiday Season

As much as we look forward to the holidays, the weeks between Thanksgiving and New Year’s Day can often feel like an endless round of decorating, cooking, and entertaining. To reduce stress and prevent holiday burnout, use these tips to make this season easy, enjoyable, and memorable.

Gift Giving Made Easy: Fun and Ingenious Ways to Streamline Your Holiday Shopping and Manage Your Budget

When it comes to holiday gifts, it really is the thought that counts. While it can be fun to indulge your family and friends with extravagant gifts, it’s not always necessary. With a little forethought and planning, it’s easy to manage your budget and impress your loved ones with cost-effective gifts that convey how much you care about them.

Ready to Invest in Income Properties? 5 Tips to Get Started

Investing in income properties can provide an array of short-term and long-term financial benefits, including regular cash flow, tax deductions, potential appreciation, and more. We asked Jim Starr, realtor with Edina Realty, for advice on getting started.

Get Your Garden Winter-Ready: 7 Easy Ideas for a Fall Weekend

Winter is a gardener’s friend, providing flowers, shrubs, and trees with a well-deserved opportunity to rest and rejuvenate after a lush, showy summer. To give your garden a jumpstart on next spring, spend a sunny fall weekend planting, mulching, and watering. With these autumnal preparations, your efforts will be rewarded next spring with a healthier, more beautiful landscape.

Getting Your House in Order: How to Build Your Own Home Repair Rolodex®

With cooler weather just around the corner, now’s a great time to get your personal Rolodex® of home service experts in order—before you actually need them. After all, the best time to call an electronics installer is before you buy the deluxe home entertainment system, and the worst time to find a friendly, cost-effective plumber is after your pipes have frozen. To help create your list of trusted home experts, here are some tips for finding the right people for each job.

Ask the Expert: Finding the Right Financial Advisor

As we head into the last quarter of 2015, most of us would like to earn more, save more, and invest more money in the year ahead. We asked Bruce Helmer, noted financial advisor, author, speaker, and radio host, for his advice.

Ask the Expert: Smart Savings Strategies for Every Age

When it comes to financial advice and guidance, it makes sense to talk to an expert. We asked Bruce Helmer, financial advisor and founder of Wealth Enhancement Group, headquartered in Plymouth, Minnesota, to share his proven strategies for success. He’s a regarded financial advisor, author, speaker, and radio host and says no matter where you are in life, you can use these tips to make the most of your savings dollars.