[Packer Fan]

Originally Posted by RickeyD

Wow, even my millennial daughter just bought into The American Dream, despite what her generational peers think. I taught her right. The only way middle income folks can build wealth is through home ownership.

I don't disagree about home ownership, however, her 401K is an even better way to build wealth - and make sure she invests in Stocks.

[Packer Fan]

I agree with the 7 month thing.. or really, if you want to get fancy - buy it, rent it out for the high season, and you can basically live in it for free from May-September.
I know it is backward - but the only difference is the heat. We are letting our renters pay for the house, and we use it 3 weeks a year (in the summer and early fall). To be honest, there is always a breeze so if you stay out of the sun, you are fine. There are less crowds everywhere, which is nice. Just a thought - be a reverse snow bird Only negative is going up North in the winter.....

[Barefoot]

Originally Posted by Packer Fan

Only negative is going up North in the winter.....

That's a negative most of us want to avoid!

[Bay Kid]

Home ownership is freedom. Come and go at will.

[asianthree]

Winter we're still waiting for winter no snow no ice no where to ski no I skating on the pond . It was 55° on Christmas day up north.

[Steve G.]

Well I have a different point of view. I have owned and rented and this isn't always an easy answer. A brand new 1900 sq ft villa 3/2 sold NEW last week for $330,000 and would require upfront approx. $75,000. Mortgage with taxes and insurance is just under $2,000. You can rent this home for $2100 a month long term and keep your $75,000. When things break it is the landlord that takes the hit not you. Find a home you like with a landlord you like and go long-term. Rent for 5 years and put your $75,000 in good stocks or mutual fund and in 5 years you end up with over $100,000 if you earn just 6%. If you plan on living here more than 10 years then you may confided buying as the home appreciation may offset your costs. Less than 10 I would consider renting.

[jedalton]

Originally Posted by biker1

One issue is how long do you plan to stay. If you are unsure of whether you want to live here then rent. The longer you stay the more attractive owning will look. Another issue is whether you want some time to decide which Villages you want to live in before buying. In that case rent while you look around.

two good answers

[jgreen12]

We rented a villa for 3 summers in a row. That gave us the opportunity to meet full time residents, ask questions, learn the area, Researched ins co., bonds, new opposed to resale. I'm very glad we did take those months to decide rather than buying immediately. It gave us the time to decide if the Villages was the right place for our wants, needs.

[Dr Winston O Boogie jr]

Originally Posted by RickeyD

In what weird math universe can it be a wash ? Considering you would be paying 18K per year for the lease plus all utility costs which includes cable, Internet, electric at 4K per year owning is definitely cheaper then renting. Also, how much value do you put on being independent from a landlord who could terminate your next lease at a whim. Moving is a hassle and although not expensive it's not that cheap. Will your security be returned after you move out ? Again, not your choice. Any landlord can nitpick repairs that will eat up your security, good luck getting it back. Again, not your choice. How will your neighbors feel about your transient status ? Again, statistically not good and not your choice. Homeownership is about the pride in knowing you are the king and queen of your castle and not a subservient that can be tossed out simply because your LandLord feels like it. For me, homeownership is priceless and not to be taken lightly.

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.

[rlcooper70]

Renting is great ..... do it until you know the area and where you want to buy. Its also less expensive if you are staying for only one of two months.

Once you know you want to be here for four months or more, purchasing becomes more economical - especially if you can declare Florida residency from a state with an income tax.

[graciegirl]

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.

[FosterMomma]

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.

[inda50]

Originally Posted by Chatbrat

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.

[Mootsino]

Originally Posted by Barefoot

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!!!!

[Laker14]

Originally Posted by Dr Winston O Boogie jr

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.