Use $200k+ in Equity to Buy Vacation Home? Any other options?
Our lifelong dream is to own a vacation home. We have approx $200k in equity in our primary residence.
We don't' have much $ to buy the second home. We sacrifice property size and storage in our primary home in order to keep the equity (and not use it to upgrade to a larger home)..... so that we can have purchasing power.
How does this work?
Is this equity an advantage in buying the 2nd home?
I don't want to jeopardize our primary residence. How do we not do that?
Thank y ou! 2nd house would be approx $165-200k..