We purchased in '05 and rented until last year. I figured then that when I was ready to retire, the house would have appreciated substantially, and I'd have been ahead of the game. I think the expenses vs income were pretty close to a wash, especially when the tax deductions were factored in. So I didn't get hurt. But I could have just bought this year as prices have rolled back to just about where they were in '05.
For you, now, I'd think would be a good time to buy. The resale market nationally is up for the 5th month in a row, and prices went up last month for the first time in 34 months. So maybe the market has turned the corner, and maybe it's a good time to get in. (These are recent national statistics and I don't know how they appl to TV).
Anyway, this may be a GREAT time to get into the rental business. And then again......
|