I think the central question is what the home and it's surroundings will be like in 10-15 years when you intend to be there to enjoy it. I don't doubt The Villages will still look well kept. But 5-6 years of full-time renting will demand consistent, thorough maintenance on your part. A modest home without lots of the 'extras' will not draw a premium rental price, so it will be questionable if you can pay all of your maintenance expenses with rental income. Any mortgage and taxes will almost certainly come out-of-pocket. So, in the end, what you might be left with is a place which you have to buy on your dime, saving only the inflationary difference between buying now or later.
Everything changes, if like us, we want to be in TV part time now or sooner than you stated above. It's made great sense for us to buy and rent for about 3/4 of the year. In that scenario we have access to our place when we want it, and a good income from rents to add extras which keep our home in great shape and very desirable to guests.
Good luck with your decisions. There are so many variables to this that solid answers will not come easily, but you are two huge steps ahead: !) You are carefully looking at the future, and 2) you've already picked the best retirement venue in the country!
|