At this point we have all noticed the declining stock market. With oil production in Iran and other parts of the globe up the market here has slide the slick downward and doesn’t show too much hope of drying up at this point. So is it time to put that money into something tangible like real estate?
Here on Cape Cod we have seen this shift happening for a few months now. Homes are selling to people that are making this shift from stocks to real estate. The reason why so many are buying a 2nd or 3rd home here on Cape Cod is that it can produce a nice cash flow through vacation rentals. Even without the stock market declining many have bought their retirement home here on Cape Cod early, rented it out each summer and by the time they go to retire it is paid for.
You really can’t go wrong buying a Cape Cod home. But it is vital you work with someone that does both selling/buying homes and renting them.
Justin & Miranda from The Cape Housing Co. / Rock Harbor Realty in Orleans said there are not too many other places you can buy a home and rent it out for 2 months of the year and make 20, 30, 40+ thousand dollars in rent. It just makes sense!
Interested in reading more about the battle between Stocks and Real Estate? Check out this article from Money.com.