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06-09-2008, 07:24 AM
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#1 | ||
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College Benchwarmer
Join Date: Nov 2003
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Second Home
Mrs Tyke and I missed the boat 10 years ago about buying a house at the beach before real estate values took off. I've been kicking myself ever since. But with the recent pullback/slowdown, I'm wondering if now is the right time to reconsider. I'm of the opinion that mutual funds and stocks should make up a large portion of our overall portfolio of investments, but with the way the markets have been lately, I don't think it unreasonable to divert some of that savings into a vacation home instead. We would not rent it out with the idea of using that as a supplemental income. We live an hour or so away from the Jersey Shore, so I could see us using it most weekends of the summer, and fairly frequently in the offseason as well.
Any thoughts to encourage/discourage us one way or the other? |
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06-09-2008, 10:09 AM
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#2 |
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College Benchwarmer
Join Date: Oct 2002
Location: Edmonton, AB
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If you have the cash, now is definitely a good time to get into that market especially if you plan to keep the property long term.
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06-09-2008, 10:23 AM
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Coordinator
Join Date: Sep 2004
Location: Chicagoland
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Quote:
Agree with this. Especially since you seem to know the area, know what you're looking for specifically, and intend to keep the property long-term. I can't imagine a better time to make such an investment. |
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06-09-2008, 10:49 AM
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#4 |
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Grizzled Veteran
Join Date: Oct 2000
Location: Wisconsin
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With global warming, it will probably be under 10 feet of water here in a few years so, I'd just plan where the new beach will be then and buy cheaper.
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06-09-2008, 11:00 AM
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#5 | |
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College Benchwarmer
Join Date: Nov 2003
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Curse you for revealing my diabolical plot  I plan to buy three blocks back from current ocean-front so that mine will be prime property some year... |
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06-09-2008, 11:29 AM
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#6 |
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Coordinator
Join Date: Dec 2004
Location: San Diego via Sausalito via San Jose via San Diego
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You could always put the house on stilts.
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