Should You Think of Your HOME as an Investment?
Should you look at your next home as an investment? Let's be honest... no one wants to lose money on their home! But is that the same thing as thinking of your home as an investment?
Part of the answer comes down to your personal outlook and tolerance. The video here outlines some of the detailed considerations you should go through about buying property of your own, like whether you plan to live in it yourself forever, for a while, or not at all.
Are you more of an emotional buyer or more of a number cruncher?
If you plan to live in the home, then the floor plan and style and surrounding area may be more important to you than if you plan to rent it out to another resident. Understanding the market dynamics is important, too. Buying in a transitional area is a better bet if you are going to hold the property for a while, but short-term investments are feasible too if your budget and market analysis are right.
If you plan to let others use the home, which is a popular option with Sarasota properties because of our vacation appeal, then you absolutely have to know the rules allowed by the community or HOA.
There are a lot of considerations, so make sure you start with research and let me know if you've got specific questions related to your home purchase.
