If you are considering buying a vacation home as a tax-saving measure, make sure to check with an expert beforehand to see if you can really save on taxes.
Whether or not buying a vacation home will save tax depends on the situation of the person buying it, so it is difficult to say. However, it is a fact that corporate executives and others are purchasing vacation home properties for tax-saving purposes. They use the purchased vacation home as a private residence or as a real estate rental to generate income while posting the maintenance and management as expenses to save on taxes.
However, there are cases where the purchase of a vacation home has its own value other than for tax saving purposes, such as in the case of corporate executives who use it before and after their monthly golf game, frequently on weekends, for employee welfare, or frequently for remote work.
When a vacation home is purchased, there will be expenses such as maintenance and management costs of the vacation home. In some cases, the negative aspect of large expenses may outweigh the positive aspect of tax savings.