RetiredGypsy
Full time employment: Posting here.
- Joined
- Mar 17, 2008
- Messages
- 979
Later down the road, I would like to own a small home out near the edge of nowhere. Now, I'm debating the pros and cons of month-to-month rentals. I'm finding more pros than cons, but I'm always game for a little gamble here and there. This is what I have so far:
PROS:
-The months spent out of the country are months I'm not paying for a roof I'm not under.
-Same for months spent out camping/sailing/etc.
-Nosy/noisy/horrible neighbors? When's the end of the month? (This one's in the top 2 reasons for me to not want to buy a home if it came with crappy neighbors at some point)
-Chance to live in a lot of different places.
-Have to keep possessions to a minimum for easy transportation.
-Travel can be done at a moment's notice without having to worry about preventative maintanence to the home before leaving.
CONS:
-Possibly running out of month-to-month rentals available (this could be considered a pro at some point, to settle down for a while with a 6-12 month lease to get to know a new area well)
-The differences in rental rates between properties can be significant.
-Very difficult to maintain a social life.
-This is money not going into an appreciating asset.
What am I missing? Is there anything so fundamentally wrong with this idea that I should instead consider finding a home now?
PROS:
-The months spent out of the country are months I'm not paying for a roof I'm not under.
-Same for months spent out camping/sailing/etc.
-Nosy/noisy/horrible neighbors? When's the end of the month? (This one's in the top 2 reasons for me to not want to buy a home if it came with crappy neighbors at some point)
-Chance to live in a lot of different places.
-Have to keep possessions to a minimum for easy transportation.
-Travel can be done at a moment's notice without having to worry about preventative maintanence to the home before leaving.
CONS:
-Possibly running out of month-to-month rentals available (this could be considered a pro at some point, to settle down for a while with a 6-12 month lease to get to know a new area well)
-The differences in rental rates between properties can be significant.
-Very difficult to maintain a social life.
-This is money not going into an appreciating asset.
What am I missing? Is there anything so fundamentally wrong with this idea that I should instead consider finding a home now?