Is Now A Good Time To Buy Investment Property Oceanfront Waterfront Delaware Rental Vacation Homes

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Q & A With Summer Home Expert, Jay Hauck.

Q. Hi Jay. I recently inherited a sum of money I´d like to invest. It came at a really interesting time in my life. In two years I expect to retire and would like to move out of my Virginia suburb. For years I´ve had my boat in the garage, only taking it out a few weekends each summer and on the occasional vacation. I´d really like to live somewhere that allows me to use it more often. That´s why I´ve been considering buying waterfront property with my inheritance. Maybe I can rent it out until I retire; I´m not ready to move yet. My question is this: with today´s market concerns, is now a good time to buy investment property? What should I look for in potential properties? And can something I buy now be easily adapted later for full time living?

D.Matthews, Norfolk

A: These are great questions! The economic news has been confusing, to say the least! What´s true is that in a climate where people are generally more anxious than ever, prices are staying low. If you have the means, now is an excellent time to buy. Never again will interest rates be as low as they are right now. The stock market can be tracked: it goes up, comes down, and goes back up again. Prevailing wisdom is that you should get into investments while the prices are low; then you´re in for the ride back up. Properties are priced to sell which means you´ll get more value for your money than you will if you wait. Getting in when prices and rates have already gone up means you actually lost money.

Time lost is money lost but it´s also more than that: its memories lost. If you wait until you retire to buy, rates will have risen, prices will have gone up, and those years of happy waterfront living will be completely missed. You know this first hand D! That boat gets dusty in the garage, reminding you of what you´d rather be doing with your time. You don´t get those days back. As we say here at Bethany Beach, "You can´t enjoy the sunset when you´re running past it". Life at Sunset Harbor is about enjoying the moment, from the porch, the dock, the boat, or the bay.

In regards to your last question, about adapting the property, I really think you´re on an excellent track. Investing now in a customizable home allows you to consider the ways you´d like to adapt your lifestyle in the future. A well-chosen waterfront property in a highly desirable area will make a fantastic vacation rental and destination for you now. Perhaps a design that allows for more closet space to accommodate future full time living would work well for you. Finding a builder who can take your changing needs into consideration is important. Waterfront property that includes a private dock and access to boatable water is an investment that will consistently appreciate and remain a valuable asset as you go through a life transition such as retirement.

I´d urge you as well to consider the area carefully. What are taxes like in the location? What are the other "hidden costs" to living there? Is it convenient? All of these are factors that will affect its desirability as both a vacation destination and permanent living community. Sunset Harbour at Bethany Beach is located in Delaware, which has very low property taxes and no sales tax. That affordability, together with the quiet atmosphere and community emphasis on a family lifestyle, make it a natural attraction.

To get more information on the area, the properties, and the community, visit www.liveatsunsetharbour.com or call 1-302-539-6731