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Reply to "Rehoboth Beach: Buying a Vacation Condo - Questions"
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[quote=Anonymous]I agree. I own a beach condo I bought 2013 for 290k. Today is worth $420k. My unit is nice and in good shape. But after Sandy a flooded lower unit that was gutted went 180k up to my 290k. They were all cash purchases. Today at prices if 400k on average. If putting down even 100k. And doing 300k mortgage you are competing with folks like me who own units outright. They will fall in price (guaranteed) almost inflation adjusted. As prices rise so does property taxes, flood insurance are rising in 2022 called Risk 2.0 and add in if mortgage rates rise and we are all back in office on 2022 them maybe 2023-2025 might be time to buy [/quote]
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