My dilema--Rent, co-own or?

[jcraycraft]

Newbie here--Recently visited TV and liked what we saw.
Grandchildren live in multiple locations so our situation would probably be to live in TV part-time and live near family part-time.
So my dilema is:
Purchase and rent out the time we're not there. We would probaly
live in TV 5-6 months but no more than 2 months at a time.
Or are there any co-owned houses in TV where the owners share the time and thus avoid the hassles of renting
If there is another idea out there I'd welcome it also
Thanks in advance for any replies

[valuemkt]

be happy to rent you a great designer for april may in a desirable location

[asianthree]

Depends on when you want to live here. You might want to rent for the two months at a time until you are sure of future plans. If you avoid high season, renting is reasonable

[Two Bills]

Wife and I have been renting in TV for 20+ years.
We looked into owning real hard, and came to the conclusion, that paying for the upkeep, taxes, fees etc on two houses was a financial non starter.
Renting monthly in the 'off' season is real cheap, and in the high season, reasonable, considering the facilities.
We are definitely in front financialy, but if we were allowed to stay in US for more than 6 months, we would purchase in TV, and rent in UK in reverse to our present arrangement.

Just my inane opinion!

[dewilson58]

Rent for a couple months and decide where you want to live.


If you rent for 5-6 months per year (during season), you in effect paid for a house for a year. And you have lost market value appreciation.


Good Luck.

[Northerner52]

When I made two lists on the costs of renting vs owning it was equal. I bought and made a nice profit on the house I bought in Pine Ridge the 30 months I owned it. Now an owner in Marsh Bend. On average homes appreciate 6%, 1% more than the average.

[dewilson58]

When I made two lists on the costs of renting vs owning it was equal. I bought and made a nice profit on the house I bought in Pine Ridge the 30 months I owned it. Now an owner in Marsh Bend. On average homes appreciate 6%, 1% more than the average.




In our neighborhood, Zillow pricing has been very close to reality. (as a reference point for review) Neighbor homes have been selling with over 10% appreciation per year for the last six years.


Past does not predict future.

[rjn5656]

go online and see if there are any opportunities for house sitting. usually you have to watch someones dog or cat while they travel

[Challenger]

Newbie here--Recently visited TV and liked what we saw.
Grandchildren live in multiple locations so our situation would probably be to live in TV part-time and live near family part-time.
So my dilema is:
Purchase and rent out the time we're not there. We would probaly
live in TV 5-6 months but no more than 2 months at a time.
Or are there any co-owned houses in TV where the owners share the time and thus avoid the hassles of renting
If there is another idea out there I'd welcome it also
Thanks in advance for any replies

Eschew complicated entanglements(co-Ownership). It is fraught with problems. Don't buy until you know TV better. Rent for several periods over a year or two.
Find out what , where you like to be and style of home that really fits your family. Really no reason to rush.

[Bay Kid]

I rented 1st. Then I found a nice, affordable home in a nice neighborhood. Come and go as I please. All of my things (golf carts and clubs, tennis and pickleball paddles, cloths, etc.) are here ready to use with a short flight. Great for friends and family to come visit. My grandchildren keep their "village things" w/me. My own private family resort. The cost for me for the whole year is about the same as renting Jan./Feb. months and it is all mine!

[jcraycraft]

Please close this thread

[dewilson58]

Please close this thread










:confused:

[tophcfa]

I rented 1st. Then I found a nice, affordable home in a nice neighborhood. Come and go as I please. All of my things (golf carts and clubs, tennis and pickleball paddles, cloths, etc.) are here ready to use with a short flight. Great for friends and family to come visit. My grandchildren keep their "village things" w/me. My own private family resort. The cost for me for the whole year is about the same as renting Jan./Feb. months and it is all mine!

Agree with the above post. Cost of renting during busy season at least as much as cost of owning and it's great to have your own place, with your own stuff there, kept the way you like it, with the ability to come and go as you please. Before buying we rented several times during the shoulder seasons and determined where we wanted to live and what to look for in a property. I haven't heard of people co-owning, but sounds way to complicated and too many potential issues. I am pretty sure that only two deeded homeowners are allowed to have resident ID's, which can be temporarily turned in, for a fee, so that renters of the property can get the use of the resident ID's.

[eweissenbach]

Agree with the above post. Cost of renting during busy season at least as much as cost of owning and it's great to have your own place, with your own stuff there, kept the way you like it, with the ability to come and go as you please. Before buying we rented several times during the shoulder seasons and determined where we wanted to live and what to look for in a property. I haven't heard of people co-owning, but sounds way to complicated and too many potential issues. I am pretty sure that only two deeded homeowners are allowed to have resident ID's, which can be temporarily turned in, for a fee, so that renters of the property can get the use of the resident ID's.

We rented for five years with another couple who have been longtime friends. In that time we never had a contentious disagreement and enjoyed doing things together, he and I golf and pickleball, the ladies Zumba and yoga. We looked at homes during that time to buy as co-owners. We checked with TV and were assured that up to four owners on the title would qualify for resident IDs. The complications would be primarily in the case of a death, or a change of mind by one of the couples. This could be addressed with a legal buy-sell agreement, specifying the terms under which those complications would be addressed. (I am a CLU/ChFC with 25 years in financial services) We ultimately decided to buy individually and currently own homes in Sanibel, about three blocks from one another. If you can be relatively certain you can get along extremely well with the other party, co-ownership can offer some advantages - sharing the cost of buying - sharing the costs of maintenance - sharing the taxes, utilities, amenity fees etc.

[rjm1cc]

This site might be of interest VH4R Home Rentals in The Villages (https://www.villagershomes4rent.com/)

I would start out renting.

I would not want the problems of being a landlord espically in a house I was going to live in part time.

[Bay Kid]

Please close this thread

Bad day?

[jcraycraft]

Not at all
The replies have been geared toward whether to buy or rent based on the Title of my thread which can be mis-leading
My dilemma per the thread itself was a choice between buying a home and then renting out when we're not there or trying to find a compatible co-owner and avoid the renting hassles
That's why I asked to close the thread

[Bay Kid]

Not at all
The replies have been geared toward whether to buy or rent based on the Title of my thread which can be mis-leading
My dilemma per the thread itself was a choice between buying a home and then renting out when we're not there or trying to find a compatible co-owner and avoid the renting hassles
That's why I asked to close the thread

Sorry. I would never rent or share my home. Don't really like strangers using my things or sleeping in my bed. Co-owning could be lots of potential trouble.

[asianthree]

Not at all
The replies have been geared toward whether to buy or rent based on the Title of my thread which can be mis-leading
My dilemma per the thread itself was a choice between buying a home and then renting out when we're not there or trying to find a compatible co-owner and avoid the renting hassles
That's why I asked to close the thread

Speak to you financial advisor, if you mortgage a home with someone else, and they do not pay you would need to fix it. Even best friends or relative could be a nightmare or best thing ever.
We had best friends who wanted to do just that, we wanted to pay cash at last minute they needed a mortgage. We chose to buy on our own. I would buy the home myself and rent it, that way you have total control and no worries.

[jricciuto]

Newbie here--Recently visited TV and liked what we saw.
Grandchildren live in multiple locations so our situation would probably be to live in TV part-time and live near family part-time.
So my dilema is:
Purchase and rent out the time we're not there. We would probaly
live in TV 5-6 months but no more than 2 months at a time.
Or are there any co-owned houses in TV where the owners share the time and thus avoid the hassles of renting
If there is another idea out there I'd welcome it also
Thanks in advance for any replies

We have a house in the Village of DelMar that we have owned for 3 years. It is mainly a rental, but we spend a couple of months in the winter. It has been a good investment, but we are ready to move on.
We will be there Feb and March 2020. Already rented for April, but we will be putting it on the market and house will be available May 1, 2020.
The property is on the Chula Vista Golf Course and will be a turn key.
If you have an interest please feel free to text Jean 585 694 3279. Would love to sell without a realtor.
If you would like to see photos and detail please go to
VillagersHomes4Rent.com...property# 5160

[OlifOlif]

What about finding a rental near the outer bends?

[Back9]

What's the "outer bends"?

[Back9]

Room-mating?

What about room-mating?

For single people this looks like a good option.

Any thoughts?

[HappyRetired]

Someone once told us that the break-even point for buying vs renting was 4 or 5 months, renting during the "high" season. That being said, we liked it here so much we sold our house up north so we wouldn't have 2 houses to maintain. Depending on where you are, selling a large home and either buying smaller or renting up north and buying here would make sense. Our kids moved to other places so we had no reason to stay in that northern location, so our decision was easier. Good luck!

[newgirl]

Great idea!

[Packer Fan]

Not at all
The replies have been geared toward whether to buy or rent based on the Title of my thread which can be mis-leading
My dilemma per the thread itself was a choice between buying a home and then renting out when we're not there or trying to find a compatible co-owner and avoid the renting hassles
That's why I asked to close the thread

If you want no work then rent. If you don't mind doing a little work then buy it and rent it out when you are not here. If you want to rent it just Jan-March it will pay for all the upkeep and then some and you can live here the rest of the year. It is probably a wash financially until you sell the house and take the profit, but even that you can beat in the Stock Market.

[tophcfa]

Just a thought on co-owning or room-matting. There is a deed restriction that says Villages homes are only to be used as single-family residences. I suppose if you are co-owning or room-matting with a close relative, like a brother or sister, all would be good. But if someone wants to pursue these options with an unrelated party, you would most likely be violating a deed restriction. Since it's an internal deed restriction, it is doubtful it would be enforced, but you still would have to live with yourself knowing the violation. I guess that decision would put you in the same place as the many Villagers that rent rooms out if their home, while the are living there, using Air BNB or similar services?

[asianthree]

Just a thought on co-owning or room-matting. There is a deed restriction that says Villages homes are only to be used as single-family residences. I suppose if you are co-owning or room-matting with a close relative, like a brother or sister, all would be good. But if someone wants to pursue these options with an unrelated party, you would most likely be violating a deed restriction. Since it's an internal deed restriction, it is doubtful it would be enforced, but you still would have to live with yourself knowing the violation. I guess that decision would put you in the same place as the many Villagers that rent rooms out if their home, while the are living there, using Air BNB or similar services?

Two couples can buy a home, with no issues. They do not have to be related, 4 resident passes are issued, however if you want to rent all 4 must be turned in.

[eweissenbach]

We rented for five years with another couple who have been longtime friends. In that time we never had a contentious disagreement and enjoyed doing things together, he and I golf and pickleball, the ladies Zumba and yoga. We looked at homes during that time to buy as co-owners. We checked with TV and were assured that up to four owners on the title would qualify for resident IDs. The complications would be primarily in the case of a death, or a change of mind by one of the couples. This could be addressed with a legal buy-sell agreement, specifying the terms under which those complications would be addressed. (I am a CLU/ChFC with 25 years in financial services) We ultimately decided to buy individually and currently own homes in Sanibel, about three blocks from one another. If you can be relatively certain you can get along extremely well with the other party, co-ownership can offer some advantages - sharing the cost of buying - sharing the costs of maintenance - sharing the taxes, utilities, amenity fees etc.

Just a thought on co-owning or room-matting. There is a deed restriction that says Villages homes are only to be used as single-family residences. I suppose if you are co-owning or room-matting with a close relative, like a brother or sister, all would be good. But if someone wants to pursue these options with an unrelated party, you would most likely be violating a deed restriction. Since it's an internal deed restriction, it is doubtful it would be enforced, but you still would have to live with yourself knowing the violation. I guess that decision would put you in the same place as the many Villagers that rent rooms out if their home, while the are living there, using Air BNB or similar services?

When considering buying as co-owners we checked with The Villages and were assured it was NO PROBLEM and that resident passes would be issued to up to four people that were on the title.

[Dlbonivich]

You should probably live here in TV 6 months and 1 day so you can take advantage of no state income tax and home stead on you real estate taxes. You can rent out with a management company January February and March with a pretty high income. If you want rental info I can give you information what you can expect to earn based on location and model and months.