If you own a second home, chances are you will be spending some time there this summer. As a second homeowner, I find that having good neighbors near my seaside cottage in Nova Scotia eases my mind about in what shape I can expect to find our place when we open the door, especially since our cottage is located 800 miles from our primary residence. Needless to say, it is not a weekend retreat.

Not all vacation homeowners are lucky enough to be able to rely on the care taking assistance offered by neighbors. When they lock the door to return home after their vacation break, most second homeowners have reason to be concerned about leaving their prized retreat vacant and unprotected. These fears have prompted a number of companies to develop remote-sensing devices that can provide greater peace of mind for second homeowners.

The New York Times has an excellent article that details some of the new devices and technologies to assure the safety of your second home when you are not in residence.

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Now that spring is finally here, it’s time to think about how to make your second home yard and landscaping more beautiful and easier to maintain. With the near-record drought in the Southeast and soaring temperatures in the desert Southwest, owners of vacation homes in those areas are looking for ways to decrease both yard-related maintenance and water usage. A recent article in the New York Times provides some helpful hints on gardening in a dry landscape, otherwise known as ‘Xeriscaping’.

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Lo’ihi Development Co. is getting ready to start offering ocean view lots in Hawaii for only $39.95! But, there’s a catch…The parcels won’t actually be available for another 10,000 years (or more). That’s because the lots are part of the Lo’ihi volcano, which is currently submerged some 3,000 feet below the ocean’s surface.

“Owners” will get a brochure and a “deed”, but it’s kind of like those websites that sells stars — you don’t really own any real property. But, it’s all just for fun anyway.

[Norm] Nichols and his business partner, Linda Kramer, both Honolulu entrepreneurs, envision online chat rooms and newsletters to discuss everything from street names to what kind of government to install. They want to hold a “homeowners association” meeting — a boat ride over the volcano — every April Fool’s Day.

Via MSNBC.

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MSN Money has a very informative article covering 10 things to keep in mind to make sure that your experience as a second home owner is a happy one.

Some of the tips include:

Know yourself - Make sure a vacation home is really the right choice for you.

Consider all the costs - Don’t forget to factor in maintenance, taxes, etc.

Know what you can afford - Make sure that you don’t overextend yourself.

Factor in tax breaks - Second home ownership can have tax advantages, don’t overlook them.

Approach joint ownership with caution - Make sure that you can live with the people that you’re buying with, whether they’re friends or relatives.

Make sure you have an exit strategy - Make sure you’re aware of all of the possible financial implications involved in selling your second home (including capital gains taxes).

You can see the whole list and more information about each item on MSN Money.

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There are many people who are beginning to think that prudence and not panic is the sensible stance to adopt when considering where to buy. If this is a factor on your radar screen as you consider a second home purchase, you will find some thoughtful pointers on the subject in this article from Realty Times.

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