With mortgage rates at record lows, is now the time to pounce on a second home?
The properties come with the standard amenities, including in-unit washer and dryers, granite countertops and balconies for admiring the water views. The blogger thinks that the condos could have been hotel rooms at one point.
As a tourist destination, Ocean City consistently performs well, as New Englanders and Mid-Atlantic residents flock to its clean beaches, family-friendly boardwalk and moderately priced lodging. A group of 11, for example, can stay in the featured five-bedroom condo for $2,899 a week for the remainder of July. For the conveniences of your own kitchen, crabbing pier and indoor and outdoor pools, you’d be hardpressed to find a hotel that does it better.
But before you go applying for loans, ask yourself whether the true motivation behind your purchase. If you’ve studied the area and spent time there, owning an investment property could be a sound choice. Ask yourself that age-old question: Is this a need or a want?
Regardless of your final decision, a fact-finding mission is always a wise first step. If it means going on vacation (again), we’re all for it.