It's that time of year again when every Newport, RI boat owner wonders where they're going to put their boat for the summer. One option many overlook is buying their own dockominium and securing their space forever. As the economy improves so does the size of the waiting lists for space in the marinas.
Newport Harbor has 2 different spots to buy a dockominium. One is at Lee's Wharf Marina and the other is Newport Onshore Marina. In the last five years both associations have completely renovated all the docks making for a great experience.
Many people ask the form of ownership they will get if they buy a dockominium. Dockominiums are transferred just like any other condominium in Rhode Island
Everyday RI homebuyers ask, “Should I buy now, or should I wait for a better deal?"
These days my answer is decisive: “NOW is the time.”
Coming from a real estate broker, these words can seem like a sales pitch - a canned response suitable for any market. I am writing today to give you facts to back up my opinion. I hope, 10 years from now, someone who bought a house after reading this blog will thank me for pushing them over the edge. I imagine how happy they will be with a 3.5% mortgage on a low purchase price negotiated during one of the strongest buyers' markets of our lifetime. Ten years down the road they will have significant equity in their home, and this will give them the freedom to