Quote:
Originally Posted by Randall55
We sold our home in the Villages for a sizeable profit. We are now renting until we find a new location to build. Our social security checks cover the rent and utilities. We have not dug into our personal money for much. The money is sitting and collecting good interest. The home is not ours and we do not have to pay for upkeep and maintenance.
When you buy an investment home, you will need to make a down payment and pay for closing costs. Rentals in the Villages are furnished with golf carts. This will be more money out of your pocket. Property taxes will be higher because you cannot homestead. You will have to pay management fees, upkeep, and maintenance.
Here is my point: Look at ALL options: renting, buying, or purchasing for investment. Do a cost analysis for each. Your answer for an easier retirement will become obvious. Good Luck!
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The buyer does not pay closing costs. The seller does.