Renting VS Buying

[villagur]

Wondering how many people rent in TV vs. buying. We are thinking of buying a patio villa to offer as a long term rental (like a yearly lease). Trying to get an idea if most residents own their own home, and if there are some renters out there, what is the going rate for rent and what is or isn't included. Thanks!

[justjim]

Wondering how many people rent in TV vs. buying. We are thinking of buying a patio villa to offer as a long term rental (like a yearly lease). Trying to get an idea if most residents own their own home, and if there are some renters out there, what is the going rate for rent and what is or isn't included. Thanks!

From what I have observed the last 8 years in TV, most rentals are for the winter season----January-April. Now, that will vary as some only want to rent part of the winter.

A few people rent year around but that number is very small and many of them end up purchasing a home in TV. In other words, they wanted a "trial period".

During the winter months rents will vary depending on location, number of bedrooms, etc. etc. but $2,800-$2,900 a month is close to average with some going up to $3,800 and higher a month. This usually includes utilities (with a cap) and many times a golf cart.

I have heard that year-around goes from as low as $1,200- $3,500 a month. Again, depending on the property.

Please understand I have no valid data----just what I know from friends, relatives and neighbors. I hope this helps.

[rayschic]

Wondering how many people rent in TV vs. buying. We are thinking of buying a patio villa to offer as a long term rental (like a yearly lease). Trying to get an idea if most residents own their own home, and if there are some renters out there, what is the going rate for rent and what is or isn't included. Thanks!

Check out one of the many rental sites such as **** to get an idea of what's available and pricing. Good luck.
Welcome to TOTV..
You can also use the search field above and read many past threads about renting.
The Villages Vacation Rentals, Condo Rentals & more on **** (http://www.****.com/vacation-rentals/usa/florida/central-disney-orlando/the-villages)

[villagur]

Thanks for the info Justjim and Rayschic. I am leaning strictly towards renting with a 1 year lease and $1200/ month was what I came up with. That would include everything except, gas, electric, cable or phone. Just wondering if I was in the ballpark, and it sounds like I am. Thanks again

[Cathy H]

It is vital that you rent first in order to understand how life is here and where the nice neighborhoods are, convenient to stores vs. remote, and the different styles of houses (some packed close, some with space in back). Invest your house money in a mutual fund and earn interest equal to the rent.

[Wing-nut2]

Think about all you have to pay. Mortgage, Taxes, Insurance, Bond, Lawn Care, Insect Control, Amenities Fee, and the lists goes on.

[redwitch]

$1,200 plus utilities for a patio villa may be a little high, depending on location and age of the villa. If you're making it turnkey, then $1,200 would probably be reasonable. Unfurnished, probably $1,000, again, depending on location.

[villagur]

Thanks for the replies. The patio villa I was considering is up near the Nancy Lopez course and it is a corner lot with easy access to Buena Vista. I will go through the numbers a few more times before I decide either way. Thanks again

[Mallory Voice]

Wondering how many people rent in TV vs. buying. We are thinking of buying a patio villa to offer as a long term rental (like a yearly lease). Trying to get an idea if most residents own their own home, and if there are some renters out there, what is the going rate for rent and what is or isn't included. Thanks!

From our experience most people end up buying unless you are sure you don't want to be a permanent (year-round) residents. Keep in mind that in our region we have a 9 month growing season which means lots of exterior maintenance is needed. Plus you have monthly maintenance fees paid to the villages and then there is the bond/tax payments. I would rent over in the historic section (because it's the cheapest) for at least 6 months before thinking of buying.
Mallory Voice
:spoken:

[takeys]

We are considering doing the same thing ... buying a villa and renting it out. Suggest talking to your Villages real estate agent about rental rates and the pros and cons of buying to rent.

[redwitch]

Hate to say this but if you're purchasing near Lopez, the rent is going to be around $900 unfurnished, $1,000-1,100 furnished/turnkey. I think it is a lovely area but it is just too far from town squares.

[njbchbum]

Wondering how many people rent in TV vs. buying. We are thinking of buying a patio villa to offer as a long term rental (like a yearly lease). Trying to get an idea if most residents own their own home, and if there are some renters out there, what is the going rate for rent and what is or isn't included. Thanks!

Wondering if this real estate purchase is for investment purposes or if you plan to eventually use the property yourself? Not only will the rental rate vary with the location; so, too, will location impact desireability to rent. If potential renters see the house as too far from where they think they want to be - it might not matter what the rent is.

If the rental is for investment, then you might want to consider including a golf cart when you also consider turn-key vs unfurnished. Am not sure if there is a problem with insuring the golf cart for renters, but that is something else you would have to look into.

[SusanOfWoodbury]

Wondering how many people rent in TV vs. buying. We are thinking of buying a patio villa to offer as a long term rental (like a yearly lease). Trying to get an idea if most residents own their own home, and if there are some renters out there, what is the going rate for rent and what is or isn't included. Thanks!

I am in my second year on renting the same patio villa and will stay at least another year. I am lucky that I have an awesome monthly rental, fully furnished and a golf cart ( no extra charge ).

I have a friend who rents off Delmar, long term rental and she pays less than I do and all her utilizes are included in the rent.

I am also looking at long term rental.. My experience has shown me, it depends where the rental is located as to how much the rent will be each month.. A patio villa north of 466 usually go for 1200.00 - 1500 a month no utilities. The better the house the rent increases.

My experience has also shown me it hard to find a long term rental,, people will advertise a long term rental and than they inform me, that 3 months are rented ( winter months )...

I rent because I am undecided whether I want to stay in TV.. Plus, I am not sure I could afford to own a house, too many expenses....

[VT2TV]

You may already have researched this, but I didn't know that if you show the rental as income, and use the deduction on your taxes.....you are only allowed to stay there for 2 weeks/year for upkeep and repairs. I have not had any experience in this, so I am NOT sure about this. I feel sure that someone will know the real answer, and will reply. I would not be able to own a place here and then not be able to use it all the time!!

[TexaninVA]

Wondering how many people rent in TV vs. buying. We are thinking of buying a patio villa to offer as a long term rental (like a yearly lease). Trying to get an idea if most residents own their own home, and if there are some renters out there, what is the going rate for rent and what is or isn't included. Thanks!

We rented for two years before we bought, and would recommend that approach. We didn't know exactly what we wanted or which village etc when we came to TV. It worked out well for us, and while we moved "twice' it was much simpler and less expensive. You can find places online. I negotiated a lower rate unfurnished. Most importantly, we really like the house and neighborhood where we ended up. Good luck.

[SantaClaus]

I've thought about renting initially when we come down, though I'm pretty certain TV is where I want to be. My concern is capital gains from our home sale, don't we have to buy again in order to avoid a big tax hit?

[jpprinter]

In the area you are talking about, un-furnished patio villas rent for $1000 to $1100. Tenant pays rent & utilties only. Home owner pays amenities, upkeep, taxes, lawn care, pest control. You won't get rich, and you probably won't pay your mortgage with the proceeds, but, every penney certainly helps.

[outahere]

I've thought about renting initially when we come down, though I'm pretty certain TV is where I want to be. My concern is capital gains from our home sale, don't we have to buy again in order to avoid a big tax hit?

You can exclude $250,000 if single or $500,000 if married and meet the IRS conditions. See this link for more details: Tax Topics - Topic 701 Sale of Your Home (http://www.irs.gov/taxtopics/tc701.html)

[SantaClaus]

Thanks so much, that really frees us up!

[outahere]

Thanks so much, that really frees us up!

You're welcome. Just fyi...... we rented an unfurnished house for a few months while we checked out the lifestyle and looked at houses to purchase. We felt that was a good move, as we weren't sure what or where we wanted to buy.

Come on down!!