Would you do it again?

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Old 07-17-2018, 09:34 AM
justanormalgirl justanormalgirl is offline
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Originally Posted by l2ridehd View Post
Rent first. Different homes, different Villages, different times of the year. Then when you buy, it will be the right home in the right location. You can't look at the rent money as lost. You have to think of it as a vacation just like any other and you spend money to stay someplace. Try it during high season, summer, and the best time of year, May and October. Try different size and style of homes. You will be very happy you invested the time and money to know you are buying the right home for you when you decide it's time to buy.
That makes sense but finding an 'affordable' rental would be the key. I have been to Florida during all seasons, weather, snowbirds etc...and I love it no matter what. I do have to consider the rent money though, I see it this way...every $ I spend on rent is a $ out of my budget to purchase and it ads up quick.
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Old 07-17-2018, 09:39 AM
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Originally Posted by justanormalgirl View Post
That makes sense but finding an 'affordable' rental would be the key. I have been to Florida during all seasons, weather, snowbirds etc...and I love it no matter what. I do have to consider the rent money though, I see it this way...every $ I spend on rent is a $ out of my budget to purchase and it ads up quick.
And buying the wrong house in the wrong location is even more expensive. If you know weather is not the issue, try to rent between May and October. You can find rentals from $1000 a month for June, July and August and $1500 for the other months.
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Old 07-17-2018, 09:58 AM
villagerjack villagerjack is offline
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Bought 11 years ago and the increase in market value of my home paid a huge portion ( maybe100%) of the cost of all of my yearly trips and living expenses when we are down here. It is the gift that keeps on giving.
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Old 07-17-2018, 10:17 AM
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Originally Posted by Bay Kid View Post
I bought 5 years ago and would do it again in a flash. Come and go when I please. Have everything I need at the home, I can just fly in and out with NO luggage. My own bed, etc. My OWN GOLF CART!!! Worth more now than 5 years ago. Great neighbors.
We bought 11 years ago and enjoyed the same benefits in terms of traveling here. Nothing like only having a small carry on bag to go on "vacation". We also had the benefit of sleeping at home and driving down to Disney, or leaving from here to go on a cruise and not having to get a hotel room.

There is a carrying cost to owning two homes, but we made the decision that this is where we wanted to retire. We vacationed in Florida quite a bit and have the benefit of relatives who live here, so we knew where we wanted to avoid (for example near waste water treatment areas). The important thing to consider is the style of home before you buy since retrofitting later can be costly (for example trying to add a pool or if you wanted a golf cart garage and even had the space to add one).

Besides buying at a better time cost wise (and think about where mortgage interest rates may be in the future), we also were able to invest in having things done in the house before we got here. Most assuredly you will want your walls painted, but you might add window treatments, change your carpeting/flooring, enclose a lanai, etc. Each year we moved "stuff" down that we knew we were going to keep, and then bought what we needed once we got here, which made the final move so much easier and cheaper. We didn't need to hire a moving company, we didn't have a ton of boxes to empty, all we did was load up the dogs and a small trailer to come down. I was on the golf course the day after we arrived for good.
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Old 07-17-2018, 12:18 PM
Spikearoni Spikearoni is offline
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Originally Posted by justanormalgirl View Post
Thank you for your replies. I can see valid points to consider on both sides. I have wondered how I would feel about leaving a fully furnished home empty for several months of the year while I was at the second home. Owning would make more sense financially, I have cringed at the thought of paying out so much for rent because that money isn't ever coming back.
It is important to also consider that as a homeowner, you will have expenditures such as taxes, home insurance, most likely a bond payment, utiities, ground and home maintenance, amenities fee, etc. When you rent, those expenses are included, so the cost of the rental may not be as prohibitive as it may appear at first glance. When you own, those costs come out of your own pocket in addition to the cost of a mortgage, if you don't pay in cash. It is also very possible that those costs will never "come back" as you stated with regard to rent. New roofs, water heaters, hvac systems, paint, all add up. When you sell your home, you will probably pay a 5 or 6% commission, which should also be factored into the "home investment" decision process.

The advice we were given was that if you plan to rent for 6 months or more, you would probably be better off buying, and hope that the money you spend on the home will pay off, if and when, you (or your heirs) sell it.
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Old 07-17-2018, 12:23 PM
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I never rented. Did the lifestyle and bought as soon as I retired 15 years ago. Best move I ever made!
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Old 07-17-2018, 03:31 PM
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Depends on you.....

Lifestyle first, rented next and then bought......Should have bought from the Get Go Not part of neighborhood until you do

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Old 07-17-2018, 07:02 PM
EPutnam1863 EPutnam1863 is offline
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Originally Posted by Barefoot View Post
As a seasonal resident, IMHO, the only way you feel part of a neighborhood is to buy.
I agree! One never gets to really know the place until he has lived there.

Also be sure to rent for a place for an entire year to see if you can bear the heat and humidity. We tried FL three times before giving up because of the heat and humidity.

So it all depends on what your expectations and dreams are.
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Old 07-18-2018, 03:27 AM
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We live here full time and love it. The heat and humidity are not a problem if you time shift in the summer - get up and get out and exercise early, before the humidity sets in. Spend hot afternoons indoors or in the pool.
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Old 07-18-2018, 12:19 PM
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Originally Posted by Brucernelson View Post
If we were to do it over again, we would rent first with a 1.5 garage, so that when we bought we would know not to get a 1.5 garage.
If you wanna sell your 1.5 garage, call me!
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Old 07-18-2018, 12:28 PM
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Originally Posted by justanormalgirl View Post
I have a question for those of you who are in TV part time. We are still looking at TV (taking longer than we planned ) but can't decide if we want to buy or rent.

If you had it to do again would you go to the expense and responsibility of a purchase or just rent for a few months of the year?
We are going through that discussion now. (We had a home in TV for 6 years and sold it.) I was put in touch with a fantastic rental in an area I like, and has a pool. Will take our dog. I'm really torn. Mostly we bought because we had rented (not in TV) in Florida areas and found that the places that took dogs were rattier and rattier. I wanted a place of my own that was in good condition, and we would not have to worry about who takes dogs and who doesn't. I may not always have a husband, but I WILL always have a pet! This rental place is really nice, and I have friends in the area, so fitting into the neighborhood is not an issue.



At the end of it all, the house payment for the year if we bought is not all that much more than the rental payment for the nice place with the pool for three months, which is about how long we will be staying in TV now.


I still don't know what to do.
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