Second Home Syndrome.

A lot of people have made so much profit on their primary residences that they are looking into second homes as investment or vacation homes. The mortgage and interest rates on second homes are not as bad as people may think, however there are some caveats.
A major one being that some of lenders treat second homes or vacation homes like a primary home and offer the same primary rates as long as the mortgage amount is conforming. Another thing to really consider is all the costs involved in buying a second home. These include not just the mortgage but also the utility bill, association payment, trash, and landscaping. Sit down and do the math, if its feasible that you can put aside this amount on a monthly basis and still live comfortably it may be worth.
Just remember to see this as a long term investment, and not a quick way to get rich quick. Also remember that you may be able to use the equity in the home you have as a leverage. Read the article for more details.

Article