Personal and Financial Benefits of a Vacation Home

personal financial benefits vacation home

At Altius Mortgage and our partners at Mortgage Ogden, we’re proud to offer a wide variety of mortgage loans to Utahns of all needs. This includes those looking for their very first home, those looking to upgrade, and even those in another unique position: Looking for a vacation home, or a second home of a similar purpose.

In most cases, these kinds of decisions are made for multiple purposes – both personal and financial. Let’s go over a few such areas, plus why they might drive you toward considering a vacation home and a quality mortgage to go with it.

Personal Factors

For many buyers, the primary reason for purchasing this second home is personal. This home is a place where you and your family, both immediate and extended, can go for various vacations and trips, used as a perfect getaway from daily life. Many families use these homes as a regular destination during the holidays, or for summer trips with the kids out of school.

In a place like Utah, you might consider a second home in a mountainous area that allows you unfettered access to nature and perhaps even ski slopes during winter. Being away from the daily home helps everyone relax and recharge, and if you have the funds to make this situation work, there are also additional financial benefits we’ll get into below.

Rental Income

On top of the personal advantages of a vacation home, there are often significant monetary benefits as well. In particular, many owners will rent out their second property when it’s not in use during the year – you can either do this on your own or using a property management company to assist with areas like maintenance, tenants and others.

Now, there are a few important factors you’ll want to consider here to make sure things are lined up properly from a financial standpoint. For one, homeowner’s insurance tends to be a bit higher if you’re renting the home out. For another, operating costs might increase slightly. In most cases, though, these costs are pretty low and do not cancel out the major financial benefits of renting. Many buyers use these rental funds to help pay down the mortgage, in fact.

Building Equity

Whether you rent the vacation home out at times or simply keep it for purely family usage, it’s an investment in your future. As you pay down your mortgage bit by bit, you’re building equity in this home. Home prices are on the rise once again, meaning that building equity in such a home could have several long-term positives for your financial profile.

For more on the potential benefits of vacation homes and how we can help you purchase one with a fantastic mortgage, or to learn about any of our mortgage loan services, speak to the staff at Altius Mortgage today.

School and District Themes for Homebuyers With Children

school themes homebuyers children

If you’ve entered the mortgage world and are browsing for new homes, you’ll be considering a number of different factors, from location and property basics to home size, amenities and many others. And for those who have children or are planning to in the near future, another factor should be on your list: Schooling.

At Altius Mortgage and our partners at Mortgage Ogden, we’re proud to offer a variety of mortgage loans to a wide range of clients, including those with new or burgeoning families. What are some of the factors you should be considering when it comes to nearby schools and school districts as you search for homes?

District and Teacher Ratings

For starters, do your research and locate legitimate ratings for nearby schools, districts and even individual teachers. For schools and districts, tools like’s K-12 school and district rankings are valuable for assessing things in a broad sense.

When it comes to teachers, understanding as much as you can about reputations and specialties is important. These are the people who will spend the most time with your children, after all. The first thing to check on for any school is that all teachers are properly certified and given background checks before being hired. From here, you may be able to find online resources that rate teachers based on previous experiences – this varies depending on exactly which area you’re looking in.

Safety and Security

Unfortunately, given the recent rise in school tragedies, it’s important to consider security and safety for your child. Make sure any school you choose has proper evaluation processes for who is allowed on the premises, plus strong security at entryways and other crux points. If there have been any recent safety issues at that school, even minor ones, ask about what’s being done to prevent these in the future.

Special Offerings

When we talk about special programs, we’re referring to two separate areas:

  • Enrichment programs: These are any and all programs that exceed standard math and language classes all children will take during school. They may include computer classes, PE, art, music, or several other potential areas. Not only should regular classes in these areas be offered, so should regular specials and after-school programs.
  • Special education: If your child has any special learning needs, something that’s the case for about one in every three children, you should inquire specifically about the programs offered here.


Finally, consider the extracurricular activities offered by the nearby schools in your area. Maybe your child wishes to play on a sports team, or perhaps they want to join the robotics club or learn a new language. Understand that your child’s interests will evolve over the years, so choosing a school or district with a variety of programs is generally the way to go here.

For more on choosing the right school or district for your child, or to learn about any of our homebuying or mortgage services, speak to the staff at Altius Mortgage today.