Quote:
Originally Posted by cjrjck
As someone who rented in TV for five years before buying I can tell you there are advantages and disadvantages. The advantages have been mentioned such as no maintenance costs. I will cover some of the disadvantages. For one, it is sometimes not as easy as you would think to find a suitable home in the area you are wanting to live for the time period you need. Much depends on the time of year your current lease ends if you having to find another home. I lost a number of potential rentals because my lease ended at a time the rentals were not available or the owner was not willing to wait until my lease ended. Also, if you are renting long term while searching for the perfect home to "pounce on" better hope that it is near the end of your long term lease or you will have to carry two house payments for some time or pay a considerable severance penalty if that is an option. We finally chose to buy because we concluded that we will be here long enough to recoup our investment in a home and likely make money. If you have the funds to purchase a home, the time you think you will be in TV could be an important factor.
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We do not have a long term lease. We negotiated with the owner on a month to month basis. If he decides to pull the rug under us, we will try to find a similar arrangement or rent off Villages property. We travel often. Our rental is just a place to return. No sweat off our back if we lose it. For now, the landlord likes the arrangements. His home sits empty frequently with very little wear and tear.