Quote:
Originally Posted by bshuler
Which neighborhoods? I would love to buy a 1 year old home.
A couple on The Villages Experience youtube podcast state they were ready to sign an in season rental agreement and then said “screw it. This is a down payment. Lets just buy a patio villa and sell it in one year”
I am planning on buying a new home, but bonds for new Veranda and Designer homes south of Eastport are close to $50,000. With the morrgage at 7% interest it is not affordable. |
Things to take into account, if you are looking at investment during high interest.
Your investment advisor is your key voice in your head. Our investment gains are far above 7%.
That said we took largest mortgage on our fourth home @6.25%. 30 days after close started dropping large principal payments. So basically in less than 5 months our interest $$ amount per month is equal or less than a 4.1% mortgage rate. This has always been our mortgage process since the 70s.
Our financial guy will tell us when to stop large principal payments and then use power of OPM.
We bought in TV 2 new spec houses, one preowned, and just built a 4/3 pool home, with $50,000 bond. So four houses, have sold three, not one did we pay off bond. Buyer absorbed the bond.
Our current bond rate is extremely low, and paying off is not in future.