Advice for rental purchase

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  #1  
Old 03-28-2013, 03:05 PM
movinsoon movinsoon is offline
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Default Advice for rental purchase

My sister is considering buying a house to use as a rental property until she is able to retire. What advice would you give her? Should she buy a home with a pool? Would it rent easier if it had a pool? How much additional expense would having a pool add? She started asking me these kinds of questions and I told her that I did not know but would post the questions on TOTV because I knew that you all would give her some expert advice. Please share any and all recommendations that you may have
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Old 03-28-2013, 03:10 PM
BettyCrocked BettyCrocked is offline
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A pool would help with rentals in the summer months but not the winter months because you don't want renters running your heater anyway. Weekly maintenance/chemical treatment runs about $90/month.
I bought one with a pool because I know that I will want one when I move here permanently and I only plan on moving one more time.
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Old 03-28-2013, 04:44 PM
ilovetv ilovetv is offline
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Insurance on a rental home having a pool would be higher, I would think. I'd check with the insurance agencies before getting a place with a pool for renters. It's a big liability even when the owner is the occupant.
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Old 03-28-2013, 05:23 PM
justjim justjim is offline
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Quote:
Originally Posted by movinsoon View Post
My sister is considering buying a house to use as a rental property until she is able to retire. What advice would you give her? Should she buy a home with a pool? Would it rent easier if it had a pool? How much additional expense would having a pool add? She started asking me these kinds of questions and I told her that I did not know but would post the questions on TOTV because I knew that you all would give her some expert advice. Please share any and all recommendations that you may have
You don't mention how soon your sister plans to retire. One year, three years or more? I'm not big on pools from an economic point----you have a pool near to you in TV that is paid by your fees which is far different what most of us had prior to moving into a retirement community like TV. Also, the adult pools are a great place to meet and make friends in your Village. Just something to think about as pools are high maintenance---even more so when you are not here to take care of it. Renting your home can be problematic especially if you are miles away..... Of course, if money is no object and you want a pool and plan to retire in the next two years---then I say go for it. I have "put a pencil" to buying and renting property in TV and found it to be a very marginal proposition at best.
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Old 03-28-2013, 05:26 PM
pparks158 pparks158 is offline
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No pool needed and it would be an added risk. There are plenty god pools in TV.
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Old 03-28-2013, 08:29 PM
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asianthree asianthree is offline
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if she need the rent to pay the bills than she should wait...renters will not cover all
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