Oceanfront Investing
Whether its a second home, a move to the ocean, a cottage or a strictly an investment oceanfront has historically been a good investment. Lately- (In Nova Scotia anyway) we are are experiencing a fair bit of buyer concern that there will be another correction, and miss out if they act too quickly. ( we had a $50,000 - $75,000 correction in the $500,000 -$800,000 range a year ago Jan.)
It will be interesting to watch this season unfold as the properties continue to pile up. You know what they say about supply and demand.
However - Quality wise. There are not many at all top quality lots that the homes sit on. They either are on extremely exposed shorelines or inner coves with no water at low tide for the easy coming and going of yachts. I can see perhaps why buyers are not buying for that reason alone, but surely there must be some underlying fear of a better deal coming around the corner.
All that aside - Have a look at the greater long term value and lets see what the whole Eastern Seaboard looks like. we are still atleast a half Million less here that anywhere down in the US! With the population increase due here combined with the retirement crowd coming in the next 10 years its pretty much a no brainer that we are due to almost double in price again.
Anyway you look at it - Oceanfront is still a great deal.
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