[gm1180]

We are looking for a place to retire, and hope to make it to TV this year to check out. If we decide it is the place for us but are not ready to make the move for 5 more years would it make sense to purchase now while prices are a little down and rent the house out? Is owning a rental a viable option in that market?
(We are of age but not ready to shut down our work yet.)

[Bill-n-Brillo]

A couple of prior threads on the topic:

Advice on Purchasing a Home

how easy is to rent your home until you ready to move

Need info on purchasing a home to be rented out.

Hopefully that will be of some help!

Bill

[gm1180]

Thank you!

[Bill-n-Brillo]

You're welcome - no problem-o!

Bill

[daca55]

Originally Posted by gm1180

We are looking for a place to retire, and hope to make it to TV this year to check out. If we decide it is the place for us but are not ready to make the move for 5 more years would it make sense to purchase now while prices are a little down and rent the house out? Is owning a rental a viable option in that market?
(We are of age but not ready to shut down our work yet.)

Thats what I did. I bought a patio villa that was furnished. I outfitted the place and hired a rental agency. I didn't want my house sitting empty and this seemed like a viable option. I was able to rent it in high season this year but after March it will sit empty. The rental agency checks it when it is not rented. You will definitely be able to rent it in high season but after that the market is not to good. If you opt for a long term rental you make out better. I would definitely buy now as prices are a lower and the tax advantages will help you. Hope this helps.

Bob

[gm1180]

Thanks Bob. I am looking at this from the perspective of an Atlanta real estate "investor" in a tanked (or tanking) real estate market. I am beginning to wonder if we bought a smaller home in TV and placed it in a rental program as a way to kind of lock in what I believe will be escalating prices there in the near future. Then when we are ready sell that place (for a profit), and our home in Georgia (no profit) and buy our desired retirement home we will be able to buy what we would want without too much pain. Just trying to look at all possible angles. Thanks again for everyone's input!

[inda50]

No, always best to wait, no one knows what the future will bring.

[coralway]

Originally Posted by gm1180

We are looking for a place to retire, and hope to make it to TV this year to check out. If we decide it is the place for us but are not ready to make the move for 5 more years would it make sense to purchase now while prices are a little down and rent the house out? Is owning a rental a viable option in that market?
(We are of age but not ready to shut down our work yet.)

That is exactly what I did. Not a bad investment at all. I believe that even when I retire some years down the road I will continue to rent it out full-time, as I have no desire to live there.

When TV is fully built out, I expect prices will (hopefully) rise a bit - then , I might sell.