Tuesday, April 6th, 2010
In my recent article, I posed the question, “Is real estate a good bet yet?” And the answer I came up with is, “probably not.”
But there’s one area where that line of reasoning does not apply.
And that’s when you’re talking about real estate with a view – a water view.
You’ve probably heard that the three most important words in real estate are location, location, location. And one location that seems to weather just about every storm (at least those of a financial nature) are properties that are located on the water. In fact, if you plan to invest in a condo or a townhouse, I suggest you only consider waterfront property.
And when I say waterfront, I’m not talking about the front of just any body of water. A pond with a fountain in the middle of a muddy canal doesn’t quite cut the mustard. In this case, I’m talking about large bodies of water. Water you can sail a boat or ride a jet ski on, like a river, a lake, or best of all, the ocean.
The market may go up and down, but properties with access to the water will always hold a good chunk of their value.
I get asked about golf course properties all the time, and to be honest, when it comes to condos and townhomes, I’d suggest avoiding them altogether. Golf courses are great in the beginning, when the developer is still involved and everything’s shiny and new. But once the developer leaves, golf course communities can run into problems, like financial difficulties and even bankruptcies, that can bring the value of the properties located there crashing down.
So when it comes to investing in property in this volatile market – and especially when it comes to condos and townhouses, hit the beach (or lake, or river). You’ll be far less likely to get soaked.
For more information on real estate and other investment opportunities, visit my website at www.brianfricke.com.
Tags: brian Fricke, certified financial planner, finance, financial advisor, Financial Management Concepts, financial planner, Financial planning, retirement, retirement planning
