Hindsight Is Always 20/20
I think it is Warren Buffet who is credited with the investment strategy of buying stock in a company whose products you really like and use. The same kind of thinking can apply to Real Estate.
For example, my wife and I have enjoyed visiting the Texas Coast for years, and almost always go to Port Aransas. It’s convenient to Austin and generally a lot of relaxing fun. It used to be a fishing village, but now it is developing into something quite different. Ten years ago one could easily purchase a condo there for $25,000 in a very beautiful building with nice amenities. We just spent a week there and I drove my poor wife crazy looking at Real Estate too much of the time…what I realized left me speechless. The same condo that was $25,000 is now closer to $250,000 or more. The newest condo project in town brags at a starting price in the $400’s.
Bottom line…if you like a place, and think it’s great, invest in it…other people probably feel the same way you do.