Despite the current drop in real estate values in Maine and nationwide, real estate has historically proven to be a good investment. With low interest rates being offered on many savings products (bonds, savings accounts, term investments, etc. ) and the volatility of the stock market, traditional investment vehicles may not be sufficient to save for your long term goals.
Some investors are taking comfort in the diversification offered by real estate investments. Investing in real estate, however, can be a tricky business, and like the stock market, every investment will not be a great one.
As a matter of fact, what can still make a great real estate investment is keyed as much to timing and interest rates as it is to the true operating costs of a property. When it comes to evaluating investment opportunities, below are advantages of real estate to consider:
Volatility of the stock market
Return on investment through payment of rent
Long Term Equity through appreciation
Lower and more managble risk
Strength of the Rental Market
Reduced Tax Liability
Vaction Homes and Second Homes
After their primary residence, many investors purchase vacation homes for enjoyment and even future retirement purposes. Maine offers many possibilities for vacation homes, either along the coast or closebly to one of our many lakes and rivers.
1031 Tax Deferred Exchange
A 1031 tax deferred exchange allows you to roll-over all of the proceeds received from the sale of an investment property into the purchase of one or more other like-kind investment properties.
Condos and Townhomes
Condominiums and townhouses offer an affordable alternative to single-family homes. In the Portland area there are many options to choose from - old restored historic buildings, in-town living as well as opportunites for properties with water or ocean views. For more information to consider with purchasing a condo or townhome:
Before you embark on your next remodling project, it might be a good idea to get an understanding of how your investment will affect the value of your home today and in the future. Our comprehensive Cost vs Value report will help you make an informed decision based on national statistics.
Understanding the Market
Getting accurate information about the latest market trends is critial to making a good decision about Maine real estate. Access the latest sales statistics on our site. Follow the link below:
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