If you want to build wealth from a great investment, then real estate is an excellent option.
Ryan Haley, broker and owner of Atlantic Shores Sotheby’s International Realty, explains why real estate is your best option right now when it comes to investment.
Unlike stocks or bonds where you get a piece of paper and watch the prices go up and down, real estate investments are tangible—you can see it and you can use it. This makes real estate unique, particularly so if it is a vacation home or if it is in the resort market.
If you’re buying in the resort market, you also benefit from the rentability of the property.
In the time of COVID-19, there has been a significant change in the way and the reason people are buying in the resort market such as Ocean City, Ocean Pines, and the beaches of Delaware. During this time as well, buyers are having less concern when it comes to rentability.
More than ever, buyers are looking at second homes or vacation homes as an extension of their homes where they can make an escape if they get tired of their main home. The purchase is more about suiting their lifestyle of wanting to go to the beach more often.
However, with a property in the resort market, they still have that guarantee that in the event that they stop using it and things change, they still can rent it.
With this concept, it becomes a sort of hybrid investment. Here, you can put in a down payment, borrow money with low-interest rates thus making it an affordable investment, rent it when needed, and it’s a place to get away to, to change your lifestyle.