In recent years there has been a surge in the number of people purchasing a second home to be used as a vacation home.  The majority of vacation homes are located near lakes, ski resorts, or along coastal areas.  Some people have purchased second homes to be near other family members (especially children or grandchildren).  According to the reports I've read, this is in large part thanks to the baby-boomer generation and low interest rates. 

Buying a second home for many people sometimes means taking on a second mortgage and some opt to treat the vacation property as an investment by renting it out part of the year.  Dozens of websites dedicated to assist you in finding renters for your second home have popped up on the Internet.  Owning a vacation home does not come without additional responsibilities.  Below are links to some articles that go into further detail on the different aspects of buying or owning a second home: 

• Ten Popular Vacation Home Features
• Long-Distance Investing:  Owning a Home Away from Home
• Vacation Properties Come With Extra Expenses
• Vacation Investors:  Keep Up or Get Out
• Record Second Home Sales Protect  Housing Market
• New NAR Study:  Tax Law Changes, Demographics Fueling Second Home Boom