Quote:
Originally Posted by OrangeBlossomBaby
If you rent, you not only get no profit from your investment, you lose 100% of your investment. You never see it again.
If your goal is to make money, then don't ever EVER rent, anything, ever. It's a guaranteed loss.
There is no guarantee that your purchase here will increase in value at all, let alone by $100,000 in a year. It also depends on what house you're looking at. A home that cost you $980,000 to buy, might certainly go up in value by $100k in a year. A home that cost you $200,000 to buy, will probably not go up in value that much in a year, or even in two years.
Properties in the Villages SEEM to have a better chance of stability in value. And don't forget - if the property you buy this year goes up $100k, and you decide to sell it to make that extra $100k - well you'll be out of a home, and need to buy another one. Problem is - the value of the other one will have gone up as well. So you might end up losing in the end.
Real estate futures is not a good investment if you're looking at a retirement home that you actually intend to live in, even part of the year.
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It is possible to make more money in investments than real estate. This is true today because interest rates are high and stock market is soaring. When interest rates are low, you should buy real estate.
We sold our home south of 44 for a sizeable profit. We are now renting. Our social security checks cover ALL of our expenses. As an added bonus, we have no maintenance. Our lives are carefree.
Our money is secure and earning high interest. We are waiting to see what happens with real estate in the Villages before we buy. Right now, new home prices are falling and preowned homes are sitting. IMO not a good time to buy a home.