Are you considering purchasing real estate as an investment? If so, you might want to consider buying a waterfront condo or perhaps a vacation property in the desert or mountains.

Southern Californians are fortunate to have the coast, the mountains, and the desert within a two to three-hour drive. That’s still close enough to visit (or vacation) if the need or desire arises.

Condos do have the added convenience and expense of Homeowners Associations.  HOAs serve as a third-party watchdog for owners. They also reduce the number of maintenance responsibilities owners must bear. Unlike a single-family home or a multi-family apartment building requiring exterior upkeep, most condo associations cover gardening, exterior maintenance and overall upkeep of the buildings and grounds.

With more retirees moving to condos in a resort or urban area, and the return to the city by many young professionals, I expect the need for upscale rentals in such areas to grow.