Quote:
Originally Posted by RayinPenn
17.8 degrees this morning when I walked the dog. It hasn't been a particularly cold winter but I absolutely hate the cold. I am 57 and ready to retire but my son is only 12. I have been thinking with the real estate market as bad as it is maybe now is the time to buy. Then rent the unit I can move in. I don't have to make money on the unit just offset some of the carrying cost. Any thoughts?
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Ray:
You asked for thoughts; these are mine...
If you can swing it financially, and if you are comfortable in and can commit to the role of landlord, then I say proceed.
Reasons in favor:
As a TOTV member since 2010, you already know that you have a wralth of resources and references within these forums.
The market here, while stronger than the rest of the country, is generally a
buyer's market. Once build out is reached in 4-5 years, coupled with a greater demand from retiring boomers, logic dictates
that TV market will shift towards sellers.
Mortgage loan rates are at/near historical lows.
Once you own in TV, even if you don't become a frog for awhile, establishes a tangible connection for you to your future. That connection brings a certain hopeful, peaceful calm to get you through the pressures of parenthood and working life.
I am 57; from PA- live in SoFla; and not quite retired. I have a TV home but do not rent it out bc I can't commit to landlord lifestyle. Besides, I want my home available for w/end escapes.
Best of luck with your decision!