With the real estate market looking better in Portland, we look outside of town to talk with our real estate expert Nick Krautter of Keller Williams realty and sellpdx.com about the ins and outs of vacation homes.

Q. What’s your first piece of advice for someone thinking of a vacation home?

A. Make sure you have a place you want to visit often, if not just buy a rental in town and use the profits to rent or stay at hotels.

Q. Is it harder to get a loan for a vacation home?

A. Typically these are treated the same as owner occupied but you won’t get an FHA or VA loan for a vacation home. Expect the same rate or just a bit higher depending on credit scores.

Q. Why is now a great time to buy vacation homes?

A. The interest rates are still low and vacation areas have yet to see prices go back up so the monthly cost to own is very low.