Originally Posted by Al in Ohio
Rent. More flexibility and less commitment. Plus no property taxes and homeowners insurance.
Other possible expenses
Condo fees and condo fee inflation
Community Development District tax
Flood Insurance in Florida and hurricane recovery expenses
Property bubble capital risk
Outdated kitchen bathroom replacement
AC service and replacement
For Canadians, significant estate planning complications
For new construction, builder handover risk
If renting out when vacant, significant Federal income, state and county tourist tax paperwork burden
After owning for a decade including managing my mom’s place, I am close to convincing DW of benefit of renting vacant and filling it with her stuff. Risk of this now though is Florida is filling up with New England Covid refugees and rents are skyrocketing.
The more months you stay south, the more it makes sense to buy, after renting a few seasons. Also pay close attention to extremes of buyer’s and seller’s markets, acquiring in market panics, unloading in market bubbles.