Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 01-04-2017, 07:21 PM   #41
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
Socca & ivinsfan,
Thanks for the additional info. Single level condos could be quite expensive to maintain.
__________________

__________________
May we live in peace and harmony and be free from all human sufferings.
Spanky is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-05-2017, 06:23 AM   #42
Full time employment: Posting here.
Golden sunsets's Avatar
 
Join Date: Jun 2013
Posts: 714
Quote:
Originally Posted by folivier View Post
We've looked at buying a second house but always come back to renting being the cheaper/easier option. Consider the yearly costs of owning another house. Often times it is the same or cheaper to just rent a house or condo for the 4 or so months you may use it. Then you keep the down payment, etc. and don't have any maintenance issues.
Also when renting you can go different places as your desires change. Or health, etc.

This has been our approach. I think there have been analyses on this forum on the number of months that you snowbird dictating whether it makes financial sense to own vs rent. I know the OP does not want to debate that issue, but renting solves his issues regarding financing as well as his wife's desire not to downsize. We snowbird for two months a year at this point. Same location, same unit every year. Lot's of friends and continuity and the advantage of avoiding the headaches of maintaining a second home remotely.


Sent from my iPad using Early Retirement Forum
__________________

__________________
"Luck favors the prepared mind"
Pasteur
Golden sunsets is online now   Reply With Quote
Old 01-05-2017, 03:16 PM   #43
Recycles dryer sheets
 
Join Date: May 2008
Location: Treasure Coast
Posts: 334
Quote:
Originally Posted by Hdhead View Post
We own a second home in Florida. Honestly, would not have considered it unless I could buy with cash, which we did. Bought in 2011 (I was 57 years old) when market was beat up and now has appreciated over 50%. So it has obviously been a decent investment that we can actual enjoy. Very liquid if ever needed. Be sure to add up all the carrying costs then add 20%. For us tax, HOA, pool maintence, power, internet, tv, insurance (not cheap), another car (we keep there). I figure $15,000 annually. We very much enjoy it and would do it again.
Very liquid if it's in a big place with lots of turnover perhaps. We have what was originally a second home, now an unneeded third home, on the market. Has been for sale for 1 1/2 years. Seasonal market with not much supply, but also limited demand due to the high prices. Could cut the price $250K and get an offer probably, but will wait a bit more through another season. No mortgage on it, so the only costs are opportunity cost the funds, insurance, taxes, etc. in that order. Not too worried because current list price is 2.6 times what we paid for it 20 years ago and we will have to pay a huge capital gains tax when we sell.
__________________
45th Birthday is offline   Reply With Quote
Old 01-05-2017, 07:42 PM   #44
Recycles dryer sheets
 
Join Date: Mar 2011
Posts: 62
Meadbh,
I agree that "unreasonable" was a poor choice of words to describe the association fees tied to condos and townhomes. Utilities and maintenance costs are necessary part of owning a property.


I personally still prefer having a single family home with no association. I can do as much of the maintenance labor as I choose, and make all of the financial decisions regarding repairs and updates.


JP
__________________

__________________
JP.mpls is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Thinking about buying a condo and snowbirding dm Life after FIRE 14 01-14-2014 06:02 PM
Snowbirding: buy or rent? Alex in Virginia Life after FIRE 28 02-18-2013 11:19 AM
End snowbirding? wlaker Life after FIRE 35 07-17-2009 09:47 PM
Property Management When Snowbirding beowulf Life after FIRE 19 12-17-2007 09:15 AM
Snowbirding to the islands LeatherneckPA Life after FIRE 8 09-28-2007 01:54 PM

 

 
All times are GMT -6. The time now is 06:47 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.