The Lifestyle of the Condo
Condo sales are off, but is a condo still a good way to define a lifestyle? Learn what the four types of buyers in the just-passed real estate boom have to teach you.
In the real estate boom of the last five years all buyers were active. There were, and still are, four potential types of buyers. Speculators, Investors, End Users, and the Second to Fifth Home Market.
Speculators, planning to flip the properties for a quick profit, buy pre-construction, flipping the property to another buyer before closing, or close, then quickly sell. Investors, willing to hold the property for a longer period, consider real estate a tangible asset, possibly less risky than other
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investments, or as a complement to a diversified portfolio. End users, seeking a primary home, are first timers, move-up or down buyers and are in the work force or retired. Second to Fifth Home Buyers, choosing a second to fifth home in a portfolio of homes, are leisure-seekers, or wealthy, still-working owners, with business or family interests in multiple areas, and are using all their properties during some portion of the year.
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