Have you been wondering if buying a lake home is the best financial move for you? Lake Homes Realty’s CEO, Glenn Phillips, gives 4 reasons why lake properties are a good investment.
- Discretionary Asset: People in this market don’t feel pressure to make rash decisions around a home, making lake real estate more stable than others.
- Little Impact from Mortgage Rates: The majority of transactions are cash and those who choose to finance through other means almost never have issues. Because of these reasons, mortgage rates don’t play a major role in their decision-making process.
- Foreclosures are Rare: When you’re in competition with cheaper, foreclosed homes, it’s harder to sell your home for what it’s actually worth. In the lake market, this issue rarely happens to this demographic.
- Somewhat Economy Independent: Even in economic uncertainty, lake homes tend to hold their value, making them a great placeholder for your money.
Nothing is completely risk-free, but purchasing a lake home is one of the safer ways to invest your money!