TO BUY AN INVESTMENT PROPERTY AT THE JERSEY SHORE OR NOT TO. THAT IS THE QUESTION

Everyone would like the magic answer to the question as to when is the right time to purchase an investment property at the Jersey Shore? Is there a best time to buy? Has the prices gone too high to benefit? Has the market hit a low? These and many other questions are asked and speculated all the time from persons wanting to own a property at the Jersey Shore.

If you are the average wanna-be beach prosper, you would naturally have concerns as to when is the best time to take the plunge and purchase the vacation/investment property you’ve always wanted to own at the Jersey Shore. There are no great answers to the question you have, but some of the worry can be answered below.

The first thing to ask yourself is if you can afford a property, and if so how much can you afford? To figure this out you will want to talk to a financial advisor or an expert in the field. Remember that if you talk to a bank, mortgage broker, or real estate agent, they all have an interest in you purchasing and may lead you in the wrong direction. Even certain financial advisors may have an interest in you not purchasing because it would take business away from them.

If you are buying because you love the Jersey Shore, you have to take that into account and put a price on the enjoyment you will receive. If you have the funds to purchase you have to weigh the fact that the property is not only an investment, it also is an enjoyment and entertainment. Having the money sit in mutual funds or the bank gets you no enjoyment other than looking at the statements once a month, and then that may be frustrating. Compare that to having a property that you can visit and enjoy knowing that your investment is in a tangible product that has a track record of growing in value.

If the market is down and interest rates are low, this is by far the best time to purchase if you have the funding and desire. Many investors make the mistake of purchasing when the values are going up, when in reality they should do the exact opposite. Buy when the market is low and that gives you a great opportunity for appreciation once the market comes back. And history shows it will.

When is the perfect time to purchase an investment at the Jersey Shore? If I knew the answer to that, I’d most likely not be writing this article right now. But if you think with your head and not your heart and follow the advice all the experts give, you will not only make a good investment, you will get many years of pleasure out of it.