4 Comments for this entry

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  riches2rags2000
  March 19th, 2010 on 5:26 pm

  As in other real estate ventures, location, location, etc. If you can do a fixer-upper or use it for your own use for a few years..even better. Right now real estate is a good investment. Just make sure you are able to “hold on to it” longer than you might want if the market turns sour. The market may slow down but is sure to rebound. Gas prices may make staying at one palce for a vacation more desirable than travel. Basically…yes…depend upon location, conditon, availability to get there, overhead with upkeep. It’s like any other proprety, but the more you use it yourself, the more the value when you sell. Good luck. Had a Lake Home for nearly 20 years full of friends, family and the children.
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  huck_99
  March 19th, 2010 on 6:19 pm

  All good advice from riches2rags2000. Just one more thing to keep in mind. If it’s really a vacation home and not a rental, you can deduct the interest just like on your primary mortgage. If it is a rental, set it up like a business and you can deduct even more stuff. In short, it’s a good long-term investment and a good short-term tax savings. I wish I had the dough to do it.
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  Oliver H
  March 19th, 2010 on 7:15 pm

  YES BECAUSE IT’S A REAL ESTATE.
  YOU WILL GET VERY GOOD RETURNS WITH IN NEXT 5 YEARS AS THE REAL ESTATE RATES ARE BOOMING.
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  curio
  March 19th, 2010 on 7:25 pm

  yes, if you have sufficient money