I disagree with some of what has been said. We never purchased real estate for an investment. We purchased property because we liked it and wanted to be there. Having said that, we always purchased in attractive areas (location, location, location).
We have bought/sold many properties over the years and always did well financially. Maybe luck of the draw? More Likely making solid decisions.
Lake property should always appreciate, whether waterfront or nearby. We have also owned ocean front, historic homes, etc.
I dont think you can go wrong purchasing property that has some kind of unique feature. It may take some sweat equity and/or time, but you should build equity.
To summarize: buy it because you like it. If the property has some kind of unique feature, you will build equity.
Life is short, don’t be afraid to take chances. It ain’t all about money! Do it because you want to.
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