A second house is one in which you do not reside full-time yet, and the primary aim is not to be rented out. However, this is a broad meaning, and in some instances, the word “second home” is more narrowly defined. This home you own isn’t your primary residence but isn’t primarily used as an investment property. You must reside in it for at least part of the year to qualify as a second home. Also, the word “second” is a little deceptive. You can possess more than one “second residence.”