That’s a New Yorker for you–priced out of her own zip code for purchasing, where decent-sized flats are considered a steal if priced under $800,000, but still in the market for that other American dream that elude most of us in the middle class: The second home.
Well, if you’re itching to buy, now is the time to pluck a deal, according to BusinessWeek.
However, unless you’re already familiar with what constitutes a fair-market price for, say, a Cape Cod vacation rental, the smart way to take a plunge is to spend time in the area first. Book a trip. Take the kids. Shop, eat and drink local. See what it feels and smells like, and eyeball other homes to see what properties are moving.
Wouldn’t it be ideal if all life’s scenarios were like that? Shadowing a future co-worker to see if you want to join full time. Going as a third wheel on a date to see how that potential suitor treats his love interests. In both situations, you’re armed with the knowledge to make an informed decision.
Same deal here–except this one’s more fun. After all, you’re on vacation.