I'm looking for opinions from this incredible group of smart and common sense people.
I want to spend January through March in Austin, Texas. I will soon have a grandchild there and want to spend time with her as she grows up. I am not ready to permanently leave my current home in Illinois.
In 2021 I will spend January through May in Texas for baby-sitting. I haven't committed to full-time babysitting past the Covid-19 situation. One parent is a teacher, so leaving in May is set and I don't want to live there in the summer.
Choice 1: A short-term rental is looking to be about $1,600 per month for the area I want. I'll have to bring or come up with some basics (bed, couch, kitchen wares, etc.). I'll have to come-up with furnishings each winter. A furnished place might be available, but not easy to find in this area.
Choice 2: A small 1970's condo goes for about $175k, with monthly expenses of roughly $420. This can be an all-cash purchase. Once furnished, I won't have to worry about it in future years.
Choice 3: A small newer (>2017) condo goes for about $325k or more, with monthly expenses of roughly $700. This can be an all-cash purchase. Once furnished, I won't have to worry about it in future years.
I have cash flow to cover the extra expenses, which will include snow removal and other absentee homeowner expenses in Illinois.
I have some cash available and I could liquidate some equities for a cash real estate purchase or I could finance.
Thanks for helping me churn these or other options over in my mind.
I want to spend January through March in Austin, Texas. I will soon have a grandchild there and want to spend time with her as she grows up. I am not ready to permanently leave my current home in Illinois.
In 2021 I will spend January through May in Texas for baby-sitting. I haven't committed to full-time babysitting past the Covid-19 situation. One parent is a teacher, so leaving in May is set and I don't want to live there in the summer.
Choice 1: A short-term rental is looking to be about $1,600 per month for the area I want. I'll have to bring or come up with some basics (bed, couch, kitchen wares, etc.). I'll have to come-up with furnishings each winter. A furnished place might be available, but not easy to find in this area.
Choice 2: A small 1970's condo goes for about $175k, with monthly expenses of roughly $420. This can be an all-cash purchase. Once furnished, I won't have to worry about it in future years.
Choice 3: A small newer (>2017) condo goes for about $325k or more, with monthly expenses of roughly $700. This can be an all-cash purchase. Once furnished, I won't have to worry about it in future years.
I have cash flow to cover the extra expenses, which will include snow removal and other absentee homeowner expenses in Illinois.
I have some cash available and I could liquidate some equities for a cash real estate purchase or I could finance.
Thanks for helping me churn these or other options over in my mind.