The stalemate over a solution to hitting the U.S. debt ceiling threatened to shake economic recovery. As the nation’s lawmakers vote on a final call to action, we are reminded how important financial stability is.  Investing in real estate such as a new condo is a solid financial move for many reasons:

• Live your investment! Instead of throwing away money on apartment rent, by buying a home, you’ll have something to show for it when it’s time to move.
• Historically, real estate has shown to be an excellent source profit through the increase in investment property value over time. Plus, upgrades to the appearance and functionality of a real estate investment property can significantly increase value.
• Condo owners are eligible for a 485-a tax abatement program whereby assessment of the pre-development is held in place for the first 8 years following conversion. Beginning in Year 9, 20% of the increase phases in each year until full assessment in the 13th year. This amounts to an average savings of more than $100,000!

Whether you’re looking for a new home to live in or a solid real estate investment, downtown Albany is a smart move in an uncertain economy.