We sell to consumers, we know it is the best investment, over time, that you can make. How many of us are buying? Do you see the advantages of investing in this market? Over the last 50 years, the investment return average is 6%. So, naturally, high market would be more, changing market would be less. If you didn't flip, if you held on to it, you would still make money on your investment.
Did you know, vacation homes (2nd homes) are deductible on your federal income tax, just like your home is? Call your tax advisor or accountant, he will explain the details. We found this out years ago when we purchased my husband's parent's home, so that, they could move to Connecticut and live closer to our family. Taxes and mortgage interest were deductible on our second home. In the New England area, our market is steady. Higher, of course, near the beaches on the shorelines. During the winter months, I believe you can do well buying in those communities. If someone is on the market, they seriously want to sell.
You could, also, purchase your second home where you know the market has slowed. With all the information on the internet, alone, you can figure out the good place to buy now. I am sure you could find a good Realtor and a good Banker here, too.
It's a Good Life!
Fran Rokicki, Clubnet~Mentor, Broker~CT
Oh, By the Way...I am never too busy for your CT referrals!
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