Thread: Real Estate
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      08-11-2019, 07:23 PM   #3
RickFLM4
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My wife and I just closed on a small condo in downtown Asheville, NC. It will be used as a vacation residence and we expect it will appreciate well while we hold it (although we won’t be devastated financially if it doesn’t). We got into it pre-construction about a year ago and believe it is priced well below comparable older properties in the area. Small chance it will be the place we retire in but you never know. Could also turn into a long term rental property if we so choose.

We waited a long time before we bought our primary residence, which we still live in, and spent 2+ years studying the market in Asheville before pulling the trigger on this second residence. We probably could have made a lot of money if we moved on something as soon as we started considering it, but hindsight is 20/20. We had to figure out priorities, budget, etc. and it took a while to decide what we really wanted was a place with restaurants and lots to do within walking distance, as well as low maintenance. Opposite of our suburban primary residence. I’d say make sure you know what you want, what you plan to do with it and what you are getting into financially.
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