second home


Also found in: Dictionary, Wikipedia.
Related to second home: vacation home

second home

A residence that is not one's principal residence.The IRS allows mortgage interest deductions for up to two residences.

References in periodicals archive ?
Loan Love's article, "Real Estate Second Home Tax Advantages In a Nutshell" explains to loan borrowers the distinct tax advantages when owning a second home and the rules that apply to them.
POST Page Of these, some 5,717 are registered as a second home in Gwynedd, the highest of any authority in Wales.
But Shadow Housing Minister Mark Isherwood said: "We have long called for clarity on the definition of a second home - yet still this remains glaringly absent.
Nigel Lewis, a property analyst at the website, suggests low returns on savings could be encouraging people to try to pick up a bargain in the housing market, in the hope that the value of their second home will rise more strongly in the longer term.
Cornwall has the largest number of second homes in the UK (14,000), while South Hams in Devon has the highest proportion of such homes at almost one in 10, PrimeLocation.
DESPITE the recession, and the threat of higher council tax bills, the number of second homes in England actually rose slightly to 246,494 this year, up by nearly 500 in the last year, a new survey shows.
Summary: MPs may have to pay thousands of pounds from some of the profits on taxpayer-funded second homes.
Mr Dismore -who serves on the Commons Standards and Privileges Committee -then allegedly "flipped" his second home designation and claimed a further pounds 31,000.
ANN CLWYD (Labour) Cynon Valley Age 72; married Majority 13,259 Distance 181m Salary pounds 64,766 Designated second home London * ACA (332) Total pounds 21,165 Mortgage/rent 9,204 Cleaning/laundry 2,400 Food 4,092 Gardening 0 Repairs/renovation 0 Furniture/electrical 204 ACA other 5,265 At the end of 2007, Ann Clwyd claimed pounds 429 for food over a 25-day period.
He named his Fife villa as his second home after moving in to Downing Street in 2006.
Dawn Butler claimed for a Jacuzzistyle bath to be fitted in her North London second home while claiming her main home was in East London.
I BELIEVE there is a simple solution to the requirement of MPs being provided with a second home near the Palace of Westminster.