Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Own vs Rent?
Old 04-18-2011, 09:55 AM   #1
Dryer sheet aficionado
 
Join Date: Aug 2009
Location: Sarasota, FL
Posts: 44
Own vs Rent?

I plan to move to the west coast of FL as soon as my TH sells...somewhere between Tampa and Venice. Although I plan to rent month to month and investigate various communities before I buy, I'm wondering if buying is a smart move. Yes, price in FL are very low and perhaps buying at the low is a smart move. Any thoughts from people who currently rent? Other than the emotional reasons, which move is smarter, given our current real estate fiasco?
__________________

__________________
If not now, when?
inkitnow 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 04-18-2011, 11:48 AM   #2
Full time employment: Posting here.
flyfishnevada's Avatar
 
Join Date: Jan 2010
Location: Smith
Posts: 743
If you are sure you want to live there, buying might be smart. But if you don't like it, selling in the short term could be problematic and you might even lose money. I'd hate to buy a new place, find out it's not my cup of tea and then being stuck there because I can't sell.
__________________

__________________
Retired July 4th, 2010 at age 43
Trout Bum, Writer, Full-Time Dad and Husband


flyfishnevada is offline   Reply With Quote
Old 04-18-2011, 12:03 PM   #3
Dryer sheet aficionado
 
Join Date: Aug 2009
Location: Sarasota, FL
Posts: 44
Good point. Thanks.
__________________
If not now, when?
inkitnow is offline   Reply With Quote
Old 04-18-2011, 12:51 PM   #4
Full time employment: Posting here.
 
Join Date: Dec 2010
Location: Southern California
Posts: 916
I see you are from IL. My question to you... how much time have you spent investigating FL in person?

Dan has a good point. Unless you know you want to stay 5 - 10 -15 years, renting might be more cost effective in the long run considering realtor cost to sell, insurance, repairs, taxes, etc. It might be different too if you have kids and you want better school districts etc.

I've seen articles that say FL real estate will be depressed for the next 10 years... general statement to the general area, I'm sure a few areas could be out of the norm.

I've researched the Tampa area as I'm seriously tired of the winters of Chicago and now Twin Cities. While getting a deal on a property is fairly easy, the supply is incredible, so your exit strategy might be key.

I viewed moving to Tampa as semi-early retirement, but concerned that the Tampa job market is questionable, so I'm staying put as the low cost housing was offset by other higher expenses... for me with some luck, FIRE in 5-6 years and then decide if FL is something I still want.
__________________
Aiming_4_55 is offline   Reply With Quote
Old 04-18-2011, 04:04 PM   #5
Dryer sheet aficionado
 
Join Date: Aug 2009
Location: Sarasota, FL
Posts: 44
Retired now; no kids. I'm thinking of somewhere between Tampa and Venice, most likely Sarasota. I've been to FL many times but don't know the west coast too well. Mostly Ft Lauderdale. I like the west coast better and plan on staying there for a long time.
So, bottom line, I'm going to rent until I determine if it will be my "last" move and then hope to buy at a good price. Good luck to you....and maybe you'll get to warmer climes sooner than you think.
__________________
If not now, when?
inkitnow is offline   Reply With Quote
Old 04-25-2011, 04:28 PM   #6
Thinks s/he gets paid by the post
GregLee's Avatar
 
Join Date: Oct 2010
Location: Waimanalo, HI
Posts: 1,881
Quote:
Originally Posted by inkitnow View Post
....and maybe you'll get to warmer climes sooner than you think.
Sounds a bit sinister.
__________________
Greg (retired in 2010 at age 68, state pension)
GregLee is offline   Reply With Quote
Old 04-26-2011, 01:02 AM   #7
Thinks s/he gets paid by the post
obgyn65's Avatar
 
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
I would not be surprised if the national real estate market remains depressed for 20 + years...

Quote:
Originally Posted by Aiming_4_55 View Post
I've seen articles that say FL real estate will be depressed for the next 10 years...
__________________
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
obgyn65 is offline   Reply With Quote
Old 04-26-2011, 02:37 PM   #8
Full time employment: Posting here.
urn2bfree's Avatar
 
Join Date: Feb 2011
Posts: 711
From a demographic standpoint- the real estate bust was totally predictable as is the upcoming boom. The economy and the real estate market are largely suceptible to bubbles or booms in population. The last such bubble was known as the BABY BOOM. Their hunger for homes drove the last boom, but they are largely settled and not going anywhere now. Their children- the so called ECHO BOOM- are not yet old enough to buy their own places---(they buy iPods and XBOXes and go on Facebook- hence the thriving of those parts of the economy)...but they are just beginning to reach the age of first home purchase...but the gap between the two has created the current mismatch in the market or trough. BUT

Those 75 million people are NOT going to live at home forever.
Those 75 million people are NOT different from every other generation before in their desire to have 4 walls all their own and a yard, etc.
They were born between 1984 and 1992- give them a little time and the market will be back for a while...until the next group of idiots forgets this completely predictable boom/bust pattern between generations.
__________________
urn2bfree is offline   Reply With Quote
Old 04-26-2011, 02:39 PM   #9
gone traveling
 
Join Date: Apr 2009
Location: Eastern PA
Posts: 3,851
Quote:
Originally Posted by obgyn65 View Post
I would not be surprised if the national real estate market remains depressed for 20 + years...
I'm glad it dosen't affect me.
__________________

__________________
rescueme is offline   Reply With Quote
Reply

Tags
florida, rent vs own, sarasota


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
Is it time to rent? msbearkeley FIRE and Money 0 02-22-2011 08:28 PM
Rent vs. Owning honobob FIRE and Money 16 10-08-2008 10:20 AM
Should we try to rent iwannaretire Young Dreamers 19 04-03-2007 08:41 PM
Own vs. rent? linkerbink Life after FIRE 51 07-14-2006 03:37 PM
rent stabalization and rent control mathjak107 Other topics 2 04-10-2006 05:56 PM

 

 
All times are GMT -6. The time now is 07:35 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.