FAQ

It might be? I’d say there are about 99 factors that go into answering this question accurately. Time of year used to matter a lot before covid, but now anything goes. My best answer is yes — if the time is right for you, then it’s the best time to sell. If your house is ready to be shown to buyers, then it’s a good time to sell. If you don’t have any competition either in your neighborhood or in your price point, then it is the BEST time to sell. —Carrie Abfall, Realtor

To be honest, pricing is as much a science as it is an art. I take into account solds nearby — like-kind solds and timely solds, within the last 3 months. I also look at properties selling outside of the MLS, which can include divorces and family transfers. We look at a saturation rate, measure against RPR, and basically think like an appraiser — so when the appraiser gets there for the buyer’s lender, we know we will pass. It’s a combination of price per square foot (ppsf), bedrooms, bathrooms, updates, finish quality, and overall condition. Thankfully, I can explain it all and substantiate it by looking at other sold properties. Active competing properties are good to understand, but they don’t substantiate your value. What matters is who signed an offer, and what a bank lent. Closed comps rule for Top Agents using the MLS in South Central Indiana.

I know, right? There are 3 hinges to the common door that help it swing open, and in real estate it’s much the same. Hinge 1 — if your home is getting a ton of showings and no offers, it’s most likely price. Hinge 2 — if you’re getting no showings, it could be a market condition or a usage condition. Hinge 3 — it’s like paella... it’s full of a bunch of reasons/fish you don’t really understand. In Columbus, Indiana, as a smaller market, it’s typically Hinge 1 or 2.

We do include a little negotiation room in pricing, and I typically try to brace my sellers to plan on negotiating 2-3%. Now, if it’s a hot property and has 12 showings and 4 offers, then no. Maybe it goes above ask. Maybe full price. So many points in the offer and situation help determine it. In my practice I always price at the point where the seller doesn’t leave money on the table but the buyer thinks — this is a fair price. That is the sweet spot in any market, anywhere, anytime.

Timelines are a big concern for sellers in Indiana and buyers in Indiana... ’cause no one can really move in a day?? I always say I don’t have a crystal ball, but I think it will be sold in x days. Currently our average days on market (DOM) is around 39, and then if you consider a loan process can take 21-45 days depending on the financing considerations... you can kind of time it. But there are tools I use in the purchase agreement and negotiations to help my buyers not always have to load up everything they own into a truck and hope for the best on the day of closing. I love a plan that gives a little grace.

I LOVE LOVE this question, and I encourage all my past clients to call me before they make big changes to their house — because there are maintenance items, needed upgrades, and amazing upgrades... and I love to help! In an effort to not write a book about this: roof, HVAC, window replacement, water heater, electrical work, new sewage drain — buyers and realtors consider these maintenance items. If you add a $30k roof, a buyer says thank you but doesn’t pay you $30k more. They expect the roof to have at least 5-20 years of useful life. But if you update a kitchen or a master bath or all new hardwood flooring, or add an outdoor kitchen or screen porch, those have an ROI that can range from 70-100%. But if you rip out cherry hardwood because you want white oak... that’s a nearly 10% ROI... what you had already answered the carpet vs. wood question — and that change was a personal preference. Kind of like a trip to Disney. It was $5k and you had a lot of fun. You are never getting those dollars back. I have so many current and past clients who text me pictures of flooring or paint or cabinets, and I’m happy to always be the voice of reason on what’s worth it and what isn’t.

GIRLLLLL no. You should have renovated 5 years ago so you could have enjoyed some of the spend. I am a big fan of fresh light fixtures, deep cleaning, new carpet, and paint to get ready to go on the market. DO NOT do a decorating allowance... Deco allowances were really popular 20 years ago. Guess what? When I see the decorating allowance on the MLS (before I ever show it), I think dang... this house must be awful!

YES. Also yes. yes but in lower case. But the right kind of staging matters. And a lot of times staging is removal. “Audible gasp.” I have a whole stash of cool art, super fun accessories for bookshelves and mantels and little fun pops of color — which make photos come alive. But to add furniture and such, no. It’s overkill. I’d say of the 40 houses I sell per year, I stage about half of them, and half of the staging process is me saying: nothing on bathroom counters, remove everything but the paper towel holder in the kitchen, make all the lightbulb colors match. Get rid of those old rugs. Clean the windows. And then we might add some pops of color. How you live in a house and how you live in a house when you sell it — they are not the same lifestyles.

Umm, this is my own Q/A — but like, if you are even asking this question then we need to start at the beginding... That reminds me of Noah when he was a baby — he couldn’t say beginning. It came out as beginding. Sigh. Crying. Back at it: professional photos in a digital world are everything. You don’t want a fish eye, you want a wide angle. Aperture and F values matter. Highlights and shadows are important so that you can see what’s out that window. The room needs to feel large but also not be a disappointment when the buyers show up and think — this was improperly marketed. LIGHT?! My photo peeps know if it’s raining — no outside photos. I absolutely refuse AI or photoshop clouds. You can’t fix the weird Indiana gray shadows, and I won’t even try. And in a realtor.com survey years ago, people said the thing they noticed most about listings online in the USA... clouds was #1. Dang!

Let me tell you a story... When I was 5 — just kidding, jump to recipe. I’ve hosted open houses early in my career where there’s a guy saying this is overpriced and broken and odd... and he is loud. And the agent, she can try and control it — but people here, hear. Typically open houses are this great opportunity for agents to pick up new clients, and from a seller’s perspective, a chance for that nosy neighbor two doors down to get a peek. But they’re also a sign that we aren’t getting the action — either via showings or offers — that we want... and that’s not good. Now, there are some opportunities to list on a particular day, block showings, and do an open house to try and drive a covid-era frenzy of offers — but it typically ends in back-on-market status 2 weeks later when buyers have regrets, and then it turns into a 10% price reduction of angst to the seller. Soooo it is a tool, can be a strategy, use it wisely, hoot hoot.

Yes you can, as long as you leave sweeper lines and no dishes in the sink!! LOL. How you live in a house for sale isn’t the same as everyday life — unless you want your spouse to stab you with his/her fork at dinner. But yes, a furnished house lived in and loved sells better than empty about 3⁄4 of the time. If you have clutter, chotzkes, crapola, and more — then honey, you got to move on out or pack it up to the garage. Buyers need mental and physical space to see their life, their stuff, their clutter. Also, we can strategically block out showing times when it won’t look its best, to save you the stress.

This is my favorite question so far, and I’ll tell you why... I’ve had a pre-closing walk where I’m late to closing by 30 minutes because I had to empty a garage, a trash toter, a cabinet, or whatever... Trust the purchase agreement — if it says microwave, window blinds, backyard playset, then those stay. What that does not include is that weird stash of trash your husband kept in the corner of the yard, 2 broken appliances in the basement, 14 dozen cans of weird paints and stains, firewood for four’ty-plus years, and a whole bunch of trash.... #magicwand# be gone!

Typical closing costs a seller pays are: 1⁄2 closing fee charged by the title co to handle the closing docs and final process. Title insurance and verification, deed prep, doc prep, and a few other misc charges. In Indiana we have a tax, called TIEFF, it’s $5. Sellers pay it. The deed itself: $95 typically. Title insurance and research fees typically run about 1% of purchase price if it’s EASY. Then the seller can pay agent commission, buyers closing costs, points, proration of taxes, inspection credits, home warranties... It is all negotiable folks.

When someone asks this about appraisal, I secretly think to myself: this isn’t their first rodeo. If your agent, for whatever reason, didn’t do the comp math upfront like I would... then you might be in a pickle. So, options: A) Seller agrees to take less, which equals appraisal value. B) Buyer agrees to pay more, up to original purchase price or anywhere in between (if buyer has the cash to do so). C) Buyer and seller get mad and terminate. And let me just add that I am never gonna get used to only one space after a period. My apologies to you, gen ZZZ. Carrie Abfall is a two-space typist. I digress. If the buyer terminates, Mr. Seller, Mr. Buyer gets his earnest money back in full unless otherwise specified, and you go back on the market... which is like a scarlet letter, frankly. And every decent agent who shows your house after coming BOM is gonna ask why you didn’t close, and your agent is going to say it didn’t appraise.... So unless you do a giant price reduction, the seller kind of gets it??

I legit have a story about this, and it goes like this. Every inspector finds issues. The question is: major issues, or maintenance, or nice-to-have. And that is where the agent you hired either shines or sinks. Loose toilet seats, door knobs that don’t latch — those aren’t major issues. Per Indiana real estate, the buyer is supposed to be looking for issues which, if not repaired or replaced, would impact their ability to live in the home and/or would significantly impair the home or cause damage. So, there’s that. I could write a 999-page book on annoyances I have with this — but I won’t, because I still want to sell homes in Columbus, Indiana.

Yes, or maybe no? Humor isn’t my specialty. If your first offer comes without a showing — no. If your first offer comes from the second showing and you have 167 booked — also no. If you’ve been on the market for 34 days and this is your first offer — maybe. So, so, so many things go into this. And the offer itself needs to be evaluated for consistency and the expectation of it actually getting to closing. So the answer is — get someone in your corner who can guide you through the nuances of accepting a first offer.

Yes. The very first thing I have new prospective clients do is connect with a lender. I have amazing ones that I love, and sometimes my clients have existing relationships. The question at hand is: does the income allow

CarrieSellsIndiana | Columbus & Central Indiana Page 5 for carrying 2 mortgages or 2 properties short term? If the answer is yes, I highly recommend it. This is a luxury way to buy a property — you can bid confidently on hot properties and many times win the bid, you don’t have to move out in a day, and you can avoid a lot of stress. A contingency is a secondary option, or a “first right,” which essentially says: I love your house but I can’t buy it till I sell mine — would you accept my offer while I scramble and try to sell my house really fast so we can then buy yours? It’s not as ideal, but in a local market like South Central Indiana, where people aren’t moving here by the busload, it is common.

It is a 3-hurdle race. Offer accepted. Inspections. Appraisal. Closing. Closing is the finish line. It is when you get your money, pay off your debts. It might be the funnest part?! I also get paid at closing 🙂 Here’s my brain dump of what happens after an accepted offer: Get all signatures, check documents. PDF them individually. Send to office for processing. Open title. Send to lender. Check for amendment requirements. Timeline buyer inspections by due date. Check with the lender on appraisal. Negotiate inspections, repairs, etc. Check with the lender on the application process. Call for a survey. Check on any contingencies noted in the contract. Confirm with the seller what stays and goes. Buyer to get homeowner’s insurance started. Confirm with title — no title issues. After appraisal approved, inspections negotiated, and clear-to-close issues handled, put up sale pending or sold signs. Schedule closing. Confirm pre-close walk-thru. Connect about keys, openers, codes, reset of equipment, moving trucks, utility transfers, etc.

During covid, when rates bottomed out, I honestly didn’t really think about refinancing. And people were moving to the beach because they could work from anywhere, and I never thought to do that. I was helping my son through sophomore year of high school and worrying about my 80-year-old parents’ groceries. Rates dipped in those years beyond comprehension, and the next time we see 2-3% is if we have another USA catastrophe — to which I say, no thank you! So, no. Don’t wait. “Date the rate, marry the house” is a popular claim, and I dislike it. But the truth is, housing prices and housing demand aren’t going down. We don’t have a surplus of places people can own to live in. And frankly, as disappointing as it is, there are many people right now who are trapped — maybe forever renters — because their rent is so high it’s impossible to save for a house. That’s a travesty! Get the house, be frugal, refinance later.

It’s probably more than you feel comfortable paying each month. Lenders use a lot of MATH that involves gross pay, estimation of taxes, and a debt-to-income ratio. They really, really like it under 40% — although if you have an MD or law degree, they’ll go higher, sometimes. I recently refinanced and then did a HELOC for cash if I need it, and I was approved for WAY more than I’d ever be comfortable paying based on how my family spends dollars each month. Sometimes, though, it’s less. Rents can skyrocket, and the reason money feels tight is because it is. A really good mortgage broker (not a bank) is who I typically send my clients to — they have the best access to grants, programs, and ways to maximize the out-of-pocket spend, avoid PMI, and figure out creative ways to make your offer hit the seller’s sweet spot.

True storytime. I won’t work with you without a pre-approval. To be clear, there are pre-qualifications and pre-approvals, and any good agent should know the difference. A pre-qual is basically the buyer inputting into a typical online form: this is what I make, this is my credit score, these are my debts — and they issue a pre-qual... it’s worth 000%. A pre-approval is the same information, but verified — bank statements are reviewed, tax returns, paystubs, credit report. A pre-approval is the only vehicle, IMO, I’m gonna ride in, in this scenario. I also pre-warn my sellers: we get an offer with no pre-approval — non-serious. Don’t be that guy or gal!

Haters gonna hate. Technically earnest money isn’t required by law. But sellers like it and agents like it. It is the glue — it’s the buyer’s way of saying I AM serious dollars. Refundable if you: a) fail inspections, b) fail financing, c) appraisal doesn’t appraise. So to the buyer it’s very little risk. To the seller, who takes their house off the active market and tells everyone “I’ve accepted an offer”... it’s kind of VIP. As a seller’s agent, I like a lot of earnest money. So if that buyer tries to walk later for no reason, it hurts.

I hear this one ALL THE TIME! And it’s valid. You should offer what you feel it’s worth. Gray answer, I get it. But overpaying for something you’re settling on creates way more issues and more cost than just saying “this is my max.” Now, your max should be competently sourced. I’ve had clients say “I felt this in a dream” or “this is my favorite scripture,” and I can tell you that those math-ing maths don’t really work most of the time. If I say “don’t pay more than this,” you can make decisive decisions on a bid. If I say “don’t pay more than this” and you decide to pay more than this... you’ve made a decision that’s emotional vs. math, and that’s okay too — so long as you understand. Eyes wide open!

No. There once was a realtor named Carrie, and she had all these realtor rules that she encouraged her clients to abide by. She was successful, top of her class, highly recommended around here. Based on an ankle break, she started making emotional decisions. Come January, a neglected and sinking house came up on a lake she loved, and she and her spouse went to see it. After viewing it, spouse M said: we are not buying it — it’s in horrible condition, sinking, mold, foundation issues, etc.... to which Carrie said, I love it. And they bid. But others bid also, and so Carrie and M waived inspections to win the bid. And so, as foretold in the story, they did buy it — and although they knew it had issues, those issues were not fixable. And then they pushed it over and built a new house. To an insurmountable cost. Soooo don’t break Carrie’s realtor rules like Carrie does. But truth be told by Carrie — it was the best calculated decision ever. 😛

Closing costs vary but for a standard purchase agreement that I write 24/7 it is this: for a buyer: lender will give you costs. For a seller: you have to guarantee GOOD title. They do research amongst your name and title holdings along with issuing an insurance policy that they have found all recorded liens from closing date forward. There is also some research fees, TIEFF tax by state of Indiana, closing fee, deed fee, and can sometimes be payoff fees of tax proration, utility protection, hoa fees, etc.. Prior to accepting any offer, I give my clients a net.. so they know their approximate walk away dollars.

I’m assuming this is a buyer question, for now. And the answer is: if you truly want out of your sale, you need to TALK TO YOUR AGENT and be honest. Being non-responsive, missing deadlines, or just all-out belligerence will help you LOSE your earnest money — or more. And real estate contracts feel fun and friendly in the beginning, but they afford lots of opportunities for sellers to sue you if you don’t honor what you signed. Like specific performance. Early on in my career — aka firing-squad training — back then they were like: you passed the exam, jump into the hot pot. Anyway, back then a buyer client went through inspections, had mortgage approval, like all the contingencies were done... and he said I want out. Earnest money he had put in was $5k on a $500k house. Seller was like, um, no. I lost 30 days of marketing time, disruption of momentum, wasted time on $5k of inspection repairs — you can exit this contract with a $25k payment to me, and also pay my agents, since they did their job. Trial by fire, I say. I’m battered and born of a different breed.

Are you sick of me yet? I had a sweet client — single, from India — and she sent me a message saying she found this house online. We went to look at it and she loved it. It met all her needs, the price was right, and we made an offer. Later she said to me, should I have looked at more houses? What would you tell her? In the time we live in, the photos are so precise, Google imagery is succinct — looking at the house is almost the final confirmation, not the first data point. She made the absolute right choice, and four years later, when she got relocated, I helped her sell that house for $60k more than she paid — win-win!! DO NOT feel like you need to see 3 houses or 30 before making a decision. Online is very, very helpful for rooms, sizes, layout, location. A personal showing is helpful for road noise, smells, feel — and if all the boxes are checked yes... then gooooooo ahead and offer. Carrie approves!!

Yes, and here’s the kicker — even buyers with zero kids care, because someday they become sellers with someone else’s kids to think about. Most of Columbus is served by Bartholomew Consolidated (BCSC), and a home in a district people want tends to sell faster and hold its value stickier. BUT — and write this down — boundaries are NOT always what you’d guess. I’ve seen a house one block from a school that’s zoned somewhere else entirely, and I’ve seen buyers assume wrong and get heartbroken. So before you fall in love, let me pull the actual school assignment. Free. Takes me five minutes. Saves you a meltdown.

First: don’t book the U-Haul yet. Start with two phone calls — a lender (I’ve got great ones) and me. Columbus pulls a LOT of folks in for work — Cummins headquarters alone moves people here from all over the globe, plus our other big manufacturers — so I relocate people constantly and I know the drill. We figure out your must-haves (commute, schools, lake vs. in-town, new build vs. character), I send you a curated batch online, and we knock out showings in a tight visit so you’re not burning PTO driving around aimlessly. I live here. I know here. Let me be your unfair advantage.

Okay, fun fact that out-of-towners NEVER see coming: this little Indiana city is world-famous for its architecture. Like, design-nerds-fly-here famous. So you get big-city design with small-town “the grocery clerk knows your name” energy. We’ve got trails, parks, a real downtown, lake living a short drive out, and a cost of living that’ll make your coastal friends weep with jealousy. Is it Chicago? No. Is that the point? Also no. People come for a job and stay because their kid can ride a bike to a friend’s house and they can actually afford the house. I’m biased. I’m also right.

It can be a GREAT one — but “can be” is doing heavy lifting in that sentence. The good news: a steady manufacturing employer base means steady renters, and our entry prices won’t give you a nosebleed like the big metros. The thing is, cute does not equal cash flow. I don’t let clients buy on vibes — I run a cap rate, pull rent comps, and we look at the real number after taxes, insurance, vacancy, and the boring stuff people forget. This is literally what I do all day on the commercial and investment side. Bring me the address, I’ll tell you if it pencils.

Cash flow first, feelings last. Remember my whole “don’t buy in a dream, buy on math” speech? Triple that for rentals. Run a cap rate, know your tenant pool, and respect the unsexy CapEx — roof, HVAC, water heater (yep, same maintenance list from the updates question, it haunts us all). Location and who-will-actually-rent-it matter more than granite. And if you’re eyeing a lake or waterfront place as a short-term play, that’s a whole different animal — seasonal income, different rules, different math — and one I happen to love running. Whatever the property type, I’ll build you the actual numbers before you write a check. Eyes wide open, always.

Depends on what keeps you up at night — waiting or fixing. New construction homes in Columbus, Indiana mean brand-new systems, warranties, and zero decorating-someone-else’s-choices baggage, but you’re often 6-12 months out and picking finishes off a spreadsheet. Existing homes in established neighborhoods usually mean mature trees, known school zones, and a move-in date that isn’t a moving target. I’ve sold both, and the honest answer is: buy the one that fits your timeline and your risk tolerance for change orders. Eyes wide open, always.

Yes, but not the way you negotiate with Mr. and Mrs. Seller down the street. Builders rarely budge much on price, but they will absolutely move on incentives — closing cost credits, upgraded flooring, a finished basement, appliance packages. Timing matters too: end-of-quarter and inventory (spec) homes are where builders get the most flexible. Bring your own agent to the table, because the sales rep in that model home works for the builder, not you.

Yes, yes, and also yes. The person sitting in that builder’s sales office represents the builder — their commission, their contract, their interests. Your own agent (me, hi) reviews the builder contract, catches the fine print on lot premiums and structural options, and negotiates on your behalf, usually at no extra cost to you since the builder pays the buyer’s agent commission anyway. Walking into a new construction deal unrepresented is like showing up to court without a lawyer because the other side seems nice.

Sit down, because design centers are basically a candy aisle for adults with a mortgage. Structural upgrades you can’t easily add later — extra outlets, a bumped-out kitchen, upgraded insulation, a finished basement stub — those are worth it. Cosmetic upgrades like light fixtures, cabinet hardware, and paint colors are almost always cheaper done after closing with your own contractor. My rule: pay the builder for anything behind the walls, do the pretty stuff yourself later.

Ballpark, 6 to 10 months from permit to keys, depending on the builder, the season, and whatever supply chain drama is happening that year. Custom builds run longer than production or spec homes because you’re making a hundred more decisions along the way. I always tell clients to add a buffer for weather delays and appliance backorders — nobody wants to be homeless because a dishwasher is stuck on a boat somewhere. Plan your current home’s closing with slack, not precision.

That’s my job — staging and pre-listing design advice is baked into what I do for every seller I list, no extra invoice. A designer is a different animal for a full renovation or a new build; I’ll tell you when you actually need one and who to call. But for “how do I make this house sell for the most money,” that’s squarely in my lane, and it’s part of why I stage about half the homes I sell every year.

Staging is temporary and sales-focused — it’s about how a house photographs and shows to strangers who need to picture their life in it, not yours. Design services are permanent and personal: paint colors, layouts, finishes you’re going to live with for years. I do staging as part of every listing; for bigger design decisions like a kitchen remodel or a whole-home refresh, I’ll point you toward the right designer or contractor and tell you which of those choices actually pay you back at resale.

I can, and honestly, this is one of my favorite conversations to have before a client spends a dollar. Call me before you rip out the cherry cabinets — I’ll tell you which renovations have a 70-100% return (kitchens, primary baths, hardwood) and which are just expensive personal preference (I’m looking at you, decorating allowance and that trendy tile). It’s a free call, and it can save you from a five-figure decorating decision you didn’t need to make.

Neutral doesn’t mean boring — it means broadly loved. Warm whites, greiges, and soft earth tones sell better than trendy colors that’ll look dated in five years; think “blank canvas with personality,” not “beige box.” For finishes, go timeless over trendy: white oak, matte black or brushed nickel hardware, and quartz counters are all safe long-term bets in Columbus and South Central Indiana right now. If you’re building or renovating to sell later rather than to live in forever, I’ll help you pick finishes that appeal to the widest buyer pool, not just your Pinterest board.

Lakefront is its own animal — pricing isn’t just price-per-square-foot, it’s frontage, water depth, dock rights, and whether you can actually swim off your own shoreline or need a canoe and a prayer. Comps are thinner because there’s simply less lakefront inventory, so I look at sold data across a wider radius and a longer timeframe than I would for an in-town home. Buyers pay a real premium for usable water access, not just a water view, and sellers who understand that price their lake home correctly instead of guessing.

It can be a great one, especially as more buyers look for lake life within a reasonable drive of Indianapolis and Columbus. Grandview Lake homes have historically held their value well because inventory is limited and lake living doesn’t go out of style — but “can be great” depends entirely on the specific property, dock situation, and what you’re planning to do with it (full-time, weekend home, or rental). Bring me the address and I’ll run the actual numbers instead of just vibes.

This is where pricing goes from science to art real fast. When there aren’t enough true comps, I widen the radius, stretch the timeframe, and look at price-per-square-foot on the closest luxury sold properties in South Central Indiana, then adjust hard for lot, finishes, view, and unique features a normal home doesn’t have. I also lean on what serious buyers at that price point are actually shopping against — sometimes that’s a home two counties over, not two streets over. It takes more legwork, but underpricing a luxury home costs just as much as overpricing it.

Get both inspected — separately, by specialists, not just folded into your general home inspection. A septic system that’s undersized for the number of bedrooms, or a well with poor water quality or low output, can turn a dream lake home into a very expensive science project. Ask for maintenance records, know the age of both systems, and budget for the fact that replacing a septic system or drilling a new well isn’t a weekend project or a small check.

Yes, and it can catch buyers off guard. Appraisers have fewer true comps to work with on the water, so lakefront appraisals lean more heavily on adjustments — frontage, dock, view, and lot — than a straightforward in-town appraisal does. This is exactly why I do the comp math upfront before we ever write an offer, so we aren’t surprised at the appraisal stage on a property where “surprised” can mean tens of thousands of dollars.

Depends on the math and how often you’ll actually use it — be honest with yourself here, not aspirational. If you’re realistically there 4+ weeks a year and plan to hold it for the long haul, ownership usually wins on both enjoyment and appreciation. If it’s more of a “maybe a few times a year” situation, renting keeps you flexible without the maintenance, taxes, and off-season empty-house stress. I’ll run the actual numbers with you before you decide — no judgment either way.

You can, and a lot of lake and second-home owners in South Central Indiana do exactly that to help offset the mortgage. Before you count on that income, check local short-term rental regulations, your HOA rules if you have one, and your insurance policy, since a straight homeowner’s policy usually doesn’t cover rental use. If rental income is part of your plan, tell me before you buy so we can factor real occupancy numbers into what the property can actually support.

Lenders see second homes as more risk, so expect a slightly higher interest rate, a bigger down payment requirement (often 10-20%), and stricter debt-to-income scrutiny than your primary mortgage. It also has to genuinely function as a second home, not a disguised rental, or you’ll need investment-property financing instead, which comes with its own tighter terms. A really good mortgage broker — not just a bank — can shop this correctly and find programs you didn’t know existed.

Same answer I give for primary homes: it’s less about the calendar and more about you. If you’ve found the lake home or vacation property that fits your life, financing works, and you’re not trying to time some perfect market bottom that doesn’t exist, then yes, now is a good time. Vacation and second-home inventory in this area is limited, and it doesn’t sit around waiting for buyers to feel ready — the good ones move.