My husband passed away one year ago this week..horrors. I recently decided to downsize because of many reasons. We own our home and also have a beach house in south jersey which is also paid off. My primary home will go on the market in early March for $460,000. So, I am assuming I should realize approximately $400,000 in cash from the sale. I will keep my beach house.
My question is: I have two opportunities....one is to buy a 2 bedroom 2 bath townhouse with an association to maintain the outside of the building as well as the landscaping, etc. for around $260,000. So, no maintenance and it will have a garage.
The second is to rent a 2 bedroom 2 bath condominium on the 5th floor of a 7 story building for $1280 per month plus electric. No maintenance anywhere. Both properties are in the same quaint walking community that I love.
My retired lifestyle is I am an adjunct professor at a local college and I teach two classes per semester. I love teaching there and it provides me with a free gym membership The remainder of my time is split between yoga, pilates, spinning, book group, mahjongg, church activities, happy hour, dancing, bunco, kayaking and biking (mostly when I am at the beach) and spending time with family and friends. I also travel with a group of friends three times a year.
I am asking for your much valued opinion on renting or buying because I have never rented a property. But, it certainly seems like a stress free way to live. Also, I like to be around people. I also understand the point of view that renting is throwing money away. Thank you all so much for listening to me.
My question is: I have two opportunities....one is to buy a 2 bedroom 2 bath townhouse with an association to maintain the outside of the building as well as the landscaping, etc. for around $260,000. So, no maintenance and it will have a garage.
The second is to rent a 2 bedroom 2 bath condominium on the 5th floor of a 7 story building for $1280 per month plus electric. No maintenance anywhere. Both properties are in the same quaint walking community that I love.
My retired lifestyle is I am an adjunct professor at a local college and I teach two classes per semester. I love teaching there and it provides me with a free gym membership The remainder of my time is split between yoga, pilates, spinning, book group, mahjongg, church activities, happy hour, dancing, bunco, kayaking and biking (mostly when I am at the beach) and spending time with family and friends. I also travel with a group of friends three times a year.
I am asking for your much valued opinion on renting or buying because I have never rented a property. But, it certainly seems like a stress free way to live. Also, I like to be around people. I also understand the point of view that renting is throwing money away. Thank you all so much for listening to me.