Talk of The Villages Florida - Cheaper to Rent or Buy??

Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)

- The Villages, Florida, General Discussion (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/)

- - Cheaper to Rent or Buy?? (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/cheaper-rent-buy-174782/)

It didn't take long for us to decide about this place and we are not impulsive about large purchases.

We bought new here, twice.

May do it again.

As for renting or buying,

Did you ever run a rental car through the car wash?

Me neither.

If you assume the costs are about the same, renting has the advantage of letting you get to know the personality of a neighbourhood. Some are very social and some are not, and some are far friendlier to new people than others. Renting lets you get a sense of whether the place suits you.

Quote:

Originally Posted by Chatbrat (Post 1159052)

Buying only works if you have enough assets & don't have to worry about appreciation. If you are concerned about costs @ retirement age--do not buy-Rent-its much easier to break a lease, than to sell a property under duress.

If you are young, rent also, this way you will not be tying up disposable income in a fixed assed which has really little growth potential & you can't benefit from the growth unless you sell it.

This is , from my experience the best advice.

Quote:

Originally Posted by Barefoot (Post 1158880)

Purchasing gives you a sense of community.
You know your neighbors and they have your back.
When you lease, you may end up in a different Village each year.
At our time of life, it's good to be part of a community.

I am renting now for 7 months and ppl are so nice, and have tons of friends!!! Going to rent this for another 3 years, I always owned a house and the expense is a lot more, I just pay my electric, which is nothing compare to up north! Plus everything is taken care of, I don't have to worry!! Ppl in my neighborhood, they kinda stay to themselves, which is fine for me!! And if there is something going on, I read it or my friends tell me!!! I love renting, maybe in a couple of years will buy! Maybe not!!! I just don't want to be stuck anywhere!! And I do feel a big part of community, I got Christmas cookies from my neighbors!!! So if your not renting, you really don't know!!!!:pepper2:

Quote:

Originally Posted by Dr Winston O Boogie jr (Post 1163681)

You forgot to mention, what to me, are the two biggest advantages of ownership.
#1 EQUITY! If you buy a home and you decide to move you get at least part of your money back and often more, with appreciation. Even if you have a mortgage, part of what you pay goes toward the principal and that belongs to you. If you have a little extra, you can pay more than your monthly payment each month and create more equity for yourself. At the end of a lease, you have nothing but moving expenses.
#2 Unless you go for an ARM, your monthly payment will never increase. It's usual for rent to increase annually. But with a mortgage, as you income increases, your housing cost are a smaller percentage of your income each year.

There is no comparison between renting and leasing real estate.

Good points, as long as you are committed to living in TV most, if not all, of the calendar year. Otherwise, taxes, maintenance and upkeep will erode most, or all of the appreciation while you are not even using the place, and facing living expenses in your other location.

Quote:

Originally Posted by rhart (Post 1159133)

I doubt that the bridge will scare me. I used to race cars for a hobby.
If the developer is redoing some of the old man. houses there must be an opportunity for others to do the same. No??

I did visit the "historic" side last week while there and liked in particular the houses with the lake view. I talked to one lady that owned two of them and she indicated that the lake view came with a $30K price differential. I think the "landscape complications" mentioned above must be a euphemism for gnomes. :)

Question for you: Can the carports in the historic area be enclosed and made into garages without undue complications or nonsense with codes/permits??
Thank you
Rick

Yes. I owned a manufactured home and the carport was enclosed. A golf cart garage was also built onto the side behind the utility room. Many of the manufactured homes have additions as well. A friend of mine added a living room that almost doubled the size of his home.

The new homes on the historic side are selling for less than comparable models in the new sections. Also, there is not bond over here.

I don't understand where people get the idea that the lots are bigger over here. When I visit my friends in the "nicer" areas, their lots seems bigger to me. I think that some of the lots over here look bigger because the manufactured homes are so small.

Quote:

Originally Posted by Laker14 (Post 1164178)

If you're talking about renting seasonally, that's another whole subject. Yes, I agree with that. If you have a primary residence elsewhere it might make sense to rent for a few months in the winter. But that should be compared to the cost of staying at a hotel as opposed to buying or renting a home.

On the other hand many people are surprised to find that some people rent here for the summer. If you owned a home, you might be able to rent it out for a few months to defray some of your expenses.