Moving to The Villages as a retiree in 2005 it became my job to enjoy life and income (from pension and annuity) which is guaranteed. Further, making income/profit is not the priority, spending it and enjoying it is now the goal. The home is a place to hang your hat, so to speak. The home is a quiet place, the personal sanctuary. Money is only made on the house when it is sold; and selling and moving are such a pain in the a** I plan on never doing it again.

I agree, I am not in it to make money any longer. I want to enjoy my comfortable life. I am not trying to build family generational wealth - that is neither my goal nor my responsibility. If the houses make a profit when I die and my heirs get them, then yay for them.

As long as they hold some measure of value, then I am happy with the choices. I am enjoying summers on the lake and winters in the sun. I can always sell one home or the other (or both) and fund nursing home or in-home health care if I need to do so with out tapping income (pensions, ss) or investment funds.


Over time, yes. I have NEVER lost money on a house, and have usually made a lot of money on them (and lived rent-free). My experiences:

Bought $227,000, sold four years later for $369,000
Took that equity as a down payment and remodel fund and bought the next:

Bought $560,000, sold six years later for $1,015,000.
Took that equity as a down payment and remodel fund and bought the next:

$920,000, sold 10 years later for $1,375,000.
Took that equity as a down payment and remodel fund and bought the next:

$705,000, currently valued based on comps 5 years later at $1,250,000, 90% equity.

This may not be what others would do, or make enough money to satisfy some finance types, but it funds my pleasant and comfortable (and early!) retirement while allowing plenty of cushion if I need to liquidate or tap investments to survive dire straights or depression-economies.

As a last thought - Even if you bought at the highest outrageous peak of 2006 / 2007 and you were underwater and lost tons of money (on paper) for a decade, those prices at 2006 /2007 would be absolute bargains today that any of us would jump at. After a certain age, it's all about long-term holding and enjoyment. Even if I never recouped the cost and my heirs only made $250,000 instead of $500,000, who cares. That's a quarter-million they wouldn't otherwise see or get.

YMMV

We are retired, with guaranteed income for the rest of our lives. We are comfortable on that income. I do not worry about making money anymore, that's why I am retired. Just write the check and enjoy your retirement life in The Villages.

Home Prices
 

Hello, we bought 2 years ago.
We bought a patio villa as we were here on a quick weekend. Our homes are quite cute, but we are looking to upside a bit.

If you buy new, you can't resell for at least one year. And for capital gains you need to wait 2 years.
Well, we have waited 2 years. Our patio villas have appreciated about 50k in 2 years. However, by the we pay commissions and fees, we can't afford to move to a bit larger home. These patio villas are perfect for rentals from what I hear. Most everyone on our block is full time.

Why were you a landlord, was it to make money? If so, how did you intend to make that money, through income, capital appreciation or both?

Thanks Normal, can you please elaborate how to use realtor.com to gather historical sales statistics? I see pretty broad market stats, but not anyplace you can drill down sales history. Can't seem to DM you.

Here it is on Zillow if that helps. Access to this page has been denied

Sure
 

Just enter the address in question. It gives sale dates and prices paid. It also lists taxes etc. it is a very handy site.