Daily Real Estate News | March 13, 2008
Falling home prices spell opportunity for buyers, even if they already own a home and don’t want to be a landlord.
Here are three smart ways to invest in today’s housing market.
Trade up. Now’s the time to buy a larger home in a better neighborhood at what will almost certainly be a good price. To be sure, buyers will have to sell their old home at a modest price. Still this could be an excellent time to improve quality of life at a bargain rate.
Buy a vacation home. Buyers, especially those who are a few years away from retirement, could find this is the perfect time to buy a place that will be more than a vacation home down the road.
Help offspring go from renters to owners. This is a great time to give the kids an advance on their eventual inheritance so they will have enough money for a down payment.
Source: The Wall Street Journal, Jonathan Clements (03/12/2008)