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Reply to "Should I buy a beach vacation home?"
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[quote=Anonymous] Buying hard assets (real estate) is absolutely a safe bet if you want to diversify. As other posters have said, it depends on WHERE. We bought in Nantucket 4 years ago and it's only gone up. We rent maybe 4 weeks to just family & friends at almost $15K a week. Use it in the off season and half the summer. Taxes matter (Ours are low, friends of ours in NJ are high) and yes, there is some maintenance costs but they are minimal. We also bought in Europe for currency diversification and it's been fantastic. This is all long term investment. If you are strapped for cash and the costs add up too much, it's probably not the best choice but you can start small.[/quote]
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