Investing in a Resort Destination Property and Using Demographics for Real Estate Investing - Case Study Geneva Lake Wis

Chapters in our lives change and these new chapters often offer a great new opportunity to move our principle residence or downsize from the family home where we raised our children. The opportunities abound for where you can live - and in the United States there are many great options. One of the options, I recently explored was a second home in Wisconsin. Buying a piece of property is a major investment. It is a long term investment and for some it is a generational investment - an investment that is handed down though not just decades but generations in the family.

What to look for when choosing where to invest? What makes an area desirable beyond your personal choice? What statistics, facts can you look at on the internet before you start your real footwork?

Check out the demographics of the area. Learn about each surrounding town and the demographics - income and housing prices and crime statistics.

No matter what state you reside in the United States or around the world, demographic data tells you about trends. It helps you invest, it can tell you where to live, it can point you to where your investments will thrive. And it can also point you to where your dollar may take a dive.

Specific Case Study for Demographics - Geneva Lake, Wisconsin

Learn about demographics for you and for your family finances and you will be able to make better investment decisions.

This is especially true for investing in a second home that is a destination around a resort community. Let's explore a beautiful lake community in southern Wisconsin, a popular destination of residents from the surrounding communities of Chicago, Illinois - Geneva Lake Wisconsin.

In this Hub we will cover a popular second home area for many from northern Illinois and the Chicagoland area. We will not cover crime statistics. I encourage you when you do your analysis to actively look at three factors - housing cost, income levels for that particular city and crime. It is these three factors that tell the inside story of the community.

Why aren't we covering crime? Simply because of time. Income and housing should give you enough information to get start on your own analysis.

I encourage you to copy and paste and create your own notebook so you learn about each town, village or city.

Of course nothing replaces visiting and walking the streets. The true flavor of any city is the attitude of the residents. Irrespective of the income levels, status, mega mansions, recreational activities, do people feel good being there? I call this the electricity in the air. It the vibrancy of the people.

I have chosen Lake Geneva Wisconsin because this area has been my vacation spot and now has become my part time home. I love it not just because of the stable and strong demographics but also because the people who come here are genuinely happy to be here.

Driving down the street and seeing the blue of the lake is uplifting to the soul. Of course, this natural beauty comes with a price tag. Let's review the various opportunities in the area.

Many Chicagoans vacation in Southern Wisconsin. Lately, it seems as if more and more are actively seeking out second homes and potential retirement residences. What does the Southern Wisconsin area have to offer? Allot! Not just in recreational activities and

Walworth County

Population: 100,593

Median Age: 35.1

Median Income: $49,481

Median Housing:  $207,400

Wisconsin Median Housing:  $170,800

Walworth County is located in Southern Wisconsin.  Population in July 2009 was reported as 100,593.  This county is smaller than the second largest city in Illinois.  Yet this is the county that Chicagoans love to visit, vacation and buy second homes.

As always, demand raises the price of real estate.  It comes as no surprise that the median housing cost is $207,400 while the median housing in the State is $170,800.

What communities in the area offer a great value?  Many!  Read on!  Dream on - Geneva Lake area - Walworth County is a great place to be!

Walworth County

Population: 8,261

Median Age: 36.5

Median Income: $42,500

State of Wisconsin Median Income: $49,993

Median Housing: $211,163

Lake Geneva is home to the many retail store fronts and the famous Mail Boat Cruise offered by Gage Marine.

The beach front has been a popular destination for decades.  The Riveria is fondly remembered by both parents and grandparents.  Weddings remain a focal point of this municipal own waterfront conference point.

One of the priciest places on Geneva Lake.  Higher median income, higher median housing value - $252,869 as compared to the State's average of approximately $170,000.  Fontana On Geneva Lake offers a fantastic beach and of course the beautiful yacht and sailing clubs nearby.

Walworth County

Population:1,926

Median Age:45.5

Median Income: $54,211

State of Wisconsin Median Income: $49,993

Median Housing $252,869

The most expensive community on Geneva Lake - with a median housing estimate of $291,616. 

Walworth County

Population: 2,225

Median Age: 41.9

Median Income: $57,971

State of Wisconsin Median Income: $49,993

Median Housing $291,616

One of the most affordable communities in Walworth County. Not on Geneva Lake but on Delavan Lake. Median housing is below the State's average. Home of the Lake Lawn Resort.  Once the home to many of the Frank Lloyd Wright designs.

Walworth County

Population: 8471

Median Age: 32.6

Median Income: $45,501

State of Wisconsin Median Income: $49,993

Median Housing $165,856

Nearest city with pop. 50,000+: Janesville, WI (27.3 miles , pop. 59,498).

Nearest city with pop. 200,000+: Milwaukee, WI (40.9 miles , pop. 596,974).

Nearest city with pop. 1,000,000+: Chicago, IL (67.5 miles , pop. 2,896,016).

Read more: http://www.city-data.com/city/Como-Wisconsin.html#ixzz1EXrgEVGb

Whether you are retiring, seeking a second home for a weekend family retreat, the Geneva Lake area in Walworth County offers two great lake sites - Geneva Lake and Delavan Lake. Take your time to tour, enjoy the sites and look at the many great options.

Do your research for your home, do your research for the demographics of your new home. The most important item is to choose a retreat that fits in your travel path and your family's interest for relaxation.

Walking the lake front pathway is free and great exercise. Wear comfortable shoes, be sure to stay hydrated and put on a protective coat of sun protection for your sun and a sun hat is always welcome - especially necessary for balding men like myself.

Using demographic data is only pertinent for a specific purpose with a specific point of view. I believe this quote is one of the most historical ever possible and really brings this point home:

"I remember auditioning for record labels and having them tell me, 'Well, the country-radio demographic is the thirty-five-year-old female housewife. Give us a song that relates to the thirty-five-year-old female, and we'll talk.'"

Taylor Swift

For you see, we must keep in mind the use of the demographic data and how rapidly it changes. The world travels at a very fast pace. Sizing up the demographics is about applying your need at the right time with the right amount of foresight.

Please share with us your use of demographics and how it has perhaps helped you investing or in your family decisions?