The Changing Dynamics of Those Buying ... - Real Estate Realist

What used to be for the wealthy, or super savvy is now something the general public could benefit greatly from, a second home. With prices having dropped up to and beyond fifty percent, the historically reliable pension plans out the window, and portfolios not churning out the supplemental income they once did something had to change. That change appears to be the type of people who buy second homes.

Buying a second property now has be touted as good business sense, In the next ten to fifteen years prices are predicted to bounce back and the window of opportunity will have passed. The bargains will no longer be available, and all the equity that could have been built up will not have been. Oh, and let?s not forget what we can all imagine interest rate will do, rise, rise, rise like dough in a bakery oven.

The most sought after of these properties will of course be those on a coastline. If you are in a position to obtain a second home, and living near the water sounds every bit ideal to you, do your homework. Don?t be closed to the idea of not shooting for the most enviable locations, as those will be highly sought after. You can get an even better deal elsewhere.

Source: http://www.realestaterealist.com/second-house/the-changing-dynamics-of-those-buying-second-homes/

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