Can I use Worcester Ma. Real Estate as a retirement tool?
One of the great benefits of our current Worcester County Real Estate market is the extremely low prices. Nationwide, it is easy to find properties more than 50% less than their market highs several years ago. While being tempted to purchase an investment property out of state; you are always much safer to purchase in your own area. Nobody knows home like you do! Places such as Florida and Las Vegas will be many years from a full recovery while more urban states such as ours in Massachusetts will see a much shorter recovery period. Simply put, our highs and lows are not as severe which makes them a better investment choice.
Owning Real Estate in Worcester County gives the investor something physical, a very tangible asset. A property that is well-located and rented gives you cash flow and if purchased correctly will provide income in the form of property appreciation. Real estate also protects you against inflation, as its value tends to move closely with the costs required to replace it—think land, bricks, concrete, steel, labor, and fixtures. These costs rise with inflation, and landlords can raise rents over time if inflation grows. It would be wise to think of purchasing at least one income producing property for any person looking to secure a very stable retirement. Right now even condos are a great investment strategy and require far less work than multifamily properties. What I like most about real estate as a retirement tool is its ability to shelter you from from some of the volatility that comes with stock ownership. When another Enron or ponzi scheme sweeps the stock market it is nice to know that you own something physical, and you are not tied entirely to the whims of what others do.