[zummy]

We are two years away from being able to use a home in the villages, but are considering buying now and renting to offset costs. Anyone doing this with success. The Village office says that they can only really assure rentals for the 3 month winter season. Thanks all!

[Barefoot]

Handieman rents his Villa out and seems very successful. You might want to PM him - he has a great video on his property and a wealth of experience (see Members button on black bar at top of page and search for Handieman). There is also a Search button on the black bar. If you search for rental information, there have been many previous posts with tons of wonderful information.

Prices are great now in TV, if you buy now I don't think you'll regret it.

Loving it in the Villages
BF

[SteveFromNY]

I rent a designer home.
It rents for about 120 days a year thru TV Property Mgmt. It pays for the expenses, but not the mortgage. In addition to the usual fees, I need to keep cable and phone active.
There are tax benefits to have rental income property as well since all expenses are deductible.

[another Linda]

We own and rent out a courtyard villa and our experience has been the same as SteveFromNY, pays the expenses but not the mortgage. We are not getting the tax benefits because we want to use it for the month of March, but it still seems like a good deal to us. I have had some emails asking about summer months, but that still wouldn't pay the mortgage.

[handieman]

"Knock on wood", our first full year of renting has been successfull so far. With a total so far, of having it rented for 4 months, has enabled us to break even on the fixed expenses. It should be noted that the mortgage is a separate item. The IRS wont let you have "your cake and eat it also", they wont let you fully deduct your expenses if you occupy it beyond a couple of weeks ( check me on the exact time)

I have discussed this with Mrs Handie, that we should have bought 3-5 yrs before retirement. The good news is that now is the time to buy and do exactly what I should have.

Good luck and message me with any questions, I'll be glad to help

Handie :joke:

[ConeyIsBabe]

Handi..... can I get the information on your villa for rent, for a period of time in the summer?

[JohnN]

short answer appears NO, you can cover expenses but not the mortgage.
The housing market is really soft and seems will be so for a bit, I'd not be in a big hurry to buy. I'm in the same position you are, I'm going to wait a bit, just IMHO.

[samhass]

Yes, The real estate market is soft. But there are also many people that can well afford 2 homes. If I was from the midwest I would be buying here now. I'm not sure prices in TV will drop much more. Interest rates are low. I sure wish I had bought well before I did.
If you find your ideal house and can swing it, I think this is a great time to buy. Some say wait til summer. I think not. That's when things up north start to sell and people come down to buy. There are many baby boomers out there that are sick of the cold climates and want this lifestyle.

[SteveFromNY]

SAMHASS -

If your intention is to buy low now and sell soon, the low point in the market could be important. But for most, buying a home is a long term investment. No matter what pricing adjustments are coming in the short term, over the course of the next 5 or 10 years the market will appreciate.

In my opinion, if you see a house that meets your needs, I wouldn't let a few dollars get in the way.

[zummy]

Thank you to all that have replied. I think our personal situation dictates we wait till my better half retires. Then our plan would be to live as snowbirds 6 month north and 6 in TV heaven. Does anyone do this and rent with success in the summer months in TV?

[handieman]

Do not count on renting a home in TV during the summer months. Yes it can be done, however the monthly rent will be lower and the monthly expenses higher (AC).
Handie :joke: