Re: buying or renting
Lets use a scenario to do the mathematics of buying vs renting.
To own a patio villa, (the least expensive new home in TV), the yearly costs will run approx $7000.00 not including the original investment or mortgage.
If you were to rent the same facility for lets say Jan, Feb, Mar and April, the rental cost could run approx. 7-8K all inclusive.
So you see its not practical to own unless you can rent it for the time periods you will NOT be there. Renting off peak months is not as easy as the prime months. Remember, if you buy and rent, you will have to furnish it with everything a livable home requires and do the leg work that a landlord has to do.
We do just as we have described and break even on the overhead costs. The nice part is we can use it when its not rented. Taking depreciation on rental property will vary depending on the amount you the landlord use it.
Hope this is of some help.
Handie :joke:
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Upstate NY and The Villages-If your not living on the edge, your taking up way too much room."
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