1 00:00:00,000 --> 00:00:01,000 Real Estate with Stephen Gasque 2 00:00:01,000 --> 00:00:02,000 Episode # 15 "Buying Your Own Beach House!" 3 00:00:02,000 --> 00:00:03,000 Drop Date: August 21, 2025 4 00:00:03,000 --> 00:00:04,000 Stephen Gasque 5 00:00:04,000 --> 00:00:05,000 (Announcer VO - Show Open) 6 00:00:05,000 --> 00:00:06,000 This is Real Estate with Stephen Gasque! 7 00:00:06,000 --> 00:00:07,000 Continuing 16 years on-air and online - helping you succeed in buying, selling and investing in property! 8 00:00:07,000 --> 00:00:08,000 The best real estate strategies out there - just for you! 9 00:00:08,000 --> 00:00:09,000 ================= 10 00:00:09,000 --> 00:00:10,000 Page 1. Show Open & Guest Intro 11 00:00:10,000 --> 00:00:11,000 Welcome to Real Estate this Week! Hi again! I'm Stephen Gasque, and I am so glad you're here - as we look at ... buying - your very own beach house! For many people - it's a lifelong dream! But did you know - that the best time of year to buy a beach house - is starting right now! 12 00:00:11,000 --> 00:00:12,000 So let's talk to an expert about making that dream come true, and why - this is the time to do it! 13 00:00:12,000 --> 00:00:13,000 Joining us now is Stephen Antoni, Broker Associate with Mott & Chace, Sotheby's International Realty, in Rhode Island. Stephen served as the President of the RI Assn. of Realtors, and he's an expert in the beautiful beach communities of Rhode island.. 14 00:00:13,000 --> 00:00:14,000 Stephen, welcome to Real Estate this Week! 15 00:00:15,000 --> 00:00:16,000 Page 2. Stephen Antoni - Interview 16 00:00:16,000 --> 00:00:17,000 Page 3. Stephen Antoni - Tag 17 00:00:17,000 --> 00:00:18,000 Stephen Antoni, Broker Associate with Mott & Chace, Sotheby's International Realty, in Rhode Island. Stephen served as the President of the RI Assn. of Realtors, and he's an expert in the beautiful beach communities of Rhode island. 18 00:00:18,000 --> 00:00:19,000 (Guitar Segue) 19 00:00:19,000 --> 00:00:20,000 Page 4. Beyond the Basics 20 00:00:20,000 --> 00:00:21,000 And now, it's time for 'Beyond the Basics,' in which we bring your real estate knowledge to the next level! And today... 21 00:00:21,000 --> 00:00:22,000 Let's look at one of the biggest decisions facing anyone who buys a beach house. or a second home anywhere. 22 00:00:22,000 --> 00:00:23,000 And that is, do you keep it all to yourself, or do you rent it out some of the time? 23 00:00:23,000 --> 00:00:24,000 It is a big decision. That involves your lifestyle, your taxes, and your income. 24 00:00:24,000 --> 00:00:25,000 Now first of all let's look at the scenario in which you keep the place all to yourself. If it's a second home or a primary home, it's all yours. You can furnish it the way you want, and fill it with the things you love, whether that's exquisite bedding, expensive fishing gear, beautiful audio and video components, or maybe a gourmet kitchen equipped to the max. 25 00:00:25,000 --> 00:00:26,000 It's your place, so you can do anything you want. 26 00:00:26,000 --> 00:00:27,000 Also, if you have a mortgage, you'll have the monthly payments. And also insurance and taxes. However, as a second home, you may qualify for some nice deductions on your taxes, but you'd want to talk to your accountant about that. 27 00:00:27,000 --> 00:00:28,000 And finally, you can go there whenever you want. Any weekend, any week, any month in the summer, it's yours. Go for it. And if it's a second home, you can turn it into your primary residence and sell the other place. Your options are endless. 28 00:00:28,000 --> 00:00:29,000 Now if you decide to rent it out though, your options change. Some changes are for the better, some maybe not. 29 00:00:29,000 --> 00:00:30,000 The changes for the better would include the finances. Because if you have a mortgage, you could use the tried and true technique of paying it using OPM. That's right, other people's money. 30 00:00:30,000 --> 00:00:31,000 Your renters, whether they are weekenders or take the place for the whole month of August, will make a big dent in that mortgage. 31 00:00:31,000 --> 00:00:32,000 But, according to the IRS, if you make that beach house into a full-time rental property, you can't use it as much as you might think. Because the IRS puts limits on how much you can use it yourself. And here's the rule: you can use 2 weeks every year, or 10% of the time you rent it out! Whichever is greater. Is that enough? 32 00:00:32,000 --> 00:00:33,000 Again, make sure you talk to your accountant about the rules, and the taxes, and what they might mean to your bottom line. 33 00:00:33,000 --> 00:00:34,000 You'll also want to check out insurance rates. Because when it's just you and your family, that's one thing. But if you have tenants coming in and out all summer, your insurance carrier will probably want more coverage. And you will too! 34 00:00:34,000 --> 00:00:35,000 Also, if you do decide to rent it out, you will probably furnish it very differently than if you lived there yourself. You'll probably want it to be more neutral. With standard beds, standard fishing gear, if there's any at all. A few regular TVs, and just everyday gear in the kitchen. After all, as much as we love renters, we know that a string of tenants can really be hard on a place. 35 00:00:35,000 --> 00:00:36,000 But again, all this is not just about beach houses. Anyone who owns a vacation home faces the same decision. Whether that's a pied a tear in the middle of the city, or a cottage on a lake, or an A-frame in the mountains, ever owner must ask: to rent or not to rent? 36 00:00:36,000 --> 00:00:37,000 That is the question. 37 00:00:37,000 --> 00:00:38,000 (Closing Guitar) 38 00:00:38,000 --> 00:00:39,000 Page 5. Tease to Next Week's Show & Show Close 39 00:00:39,000 --> 00:00:40,000 Next time on Real Estate This Week? 'Mortgage Interest Rates - and you!' We'll talk to a mortgage expert about rates - and what could happen if they fall - or - if they don't! Important information for anyone with a home loan! That's next, on Real Estate This Week! 40 00:00:40,000 --> 00:00:41,000 And until then, I'm Stephen Gasque....and thank you for listening! 41 00:00:41,000 --> 00:00:42,000 (Announcer VO - Show Close) 42 00:00:42,000 --> 00:00:43,000 A brand new episode of Real Estate with Stephen Gasque drops every Thursday - everywhere! 43 00:00:43,000 --> 00:00:44,000 And you're invited to listen, subscribe and follow us! Just look for Real Estate, with Stephen Gasque! 44 00:00:44,000 --> 00:00:45,000 The best real estate strategies out there - just for you!