Snowbirding: buy or rent?

[Alex in Virginia]

Thanks again, everyone, for all your comments. I've arrived at a point of closure with this thread, so here it is.

I invited my wife to go through all of your replies. She did up to a point, but she nevertheless is flat-out against renting a snowbird place. She offered that, since she won't be retiring herself for at least 2 years (and maybe more), I should go ahead and try the renting on my own. So that's what I will be doing, starting next year.

We can do this separate thing given that due to job logistics we already live in 2 separate houses 5 days a week, and from time to time choose or need to go on solo trips. I'm not sure how that will extrapolate to a 3-month separation, but we will see how that works too.

To my mind, it's already too late this year, but I'll start researching for next year, and start a new thread on this blog site regarding it. I'll start it fairly soon. Look for a title thread like "My search for a Central FL snowbird rental".

Right now, I need to sign off and go shovel snow. I am snowbound. My truck is snowbound. Ugh!

 

[DJRR]

Late to the thread, but is your wife's issue a moving issue or an "investment" issue?

If it is a moving issue, my Dad and Aunt both live in different snowbird communities where you can rent a park model for 6 months prime season and you get the other 6 months for ~ 2 extra months rent. So for 8 months rental you can have a year round place and they only charge utilities if you occupy. That way you don't have to move each time and you can come down in the summer if the grandkids want to do Disneyworld or something.

Not sure how it cost compares to owning, but could give you a better mid ground with your wife.

 

[bondi688]

I was looking at townhouse/condo in Florida, and came upon a listing of a very cheap TH in fairly upscale gated Community. I thought it was a foreclosure or short sale, but it was not. The catch was in the small print:
"Many of the units within this complex have tested postive for Chinese Drywall. Realtor has no knowledge whether this unit has Chinese Drywall or not."
Talk about a disingenuous non-disclosure.

 

[Free To Canoe]

We've been snowbirding Illinois to Florida, for 23 years. Our florida home is in Leesburg, and is a 350 unit manufactured home park, for seniors. Very high energy activities of all kinds, busy social life, lake and Marina.

The decision to rent or buy, has a lot to do with what you're looking for. If it's senior housing, one thing, if mixed neighborhood, another... Depends on the price range. A vast difference... In our park, average price is probably around $40,000. In Lady Lake, The Villages... (between Leesburg and Ocala,) is a senior community of about 150,000, with over 60,000 homes, all built since 2000. three Walmarts to give you an idea of the size. 34 golf courses. Price range about $135K to 600K+.

Many of the communities that were selling houses in the $150K to $250K range, during the heydays... 1985 to 2003... are now selling for about $100K
to #200K.

For snowbird housing, in our park, the break point for buying or renting is about 4 months... As mentioned in an above post... it takes a special type of person to be able to bring enough belongings to stay in a rental place for 3-4 months. We wouldn't think of it.

I'd recommend that you take a look at (Google) these communities in the Leesburg area... Highland Lakes... Royal Highlands... for stick built housing... and Lake Griffin Harbor. There are more than 100 communities in a 50 mile radius.

BIL lives in Tanglewood in Sebring... nice active commuity... 100 miles further south.

Much more important than buying or renting, is what you're looking for. First time new retirees looking abound Florida most commonly look for the housing, and make big time mistakes... Lifestyle first... absolutely! Don't look at the house... look at the community, and the people. Find your own level of financial comfort, and the activities that suit your interests. I'd like to have a dollar for every resident of our park, who spent two or three unhappy years in Florida in a park that didn't suit them, before finding ours. The house is secondary.

If you post your interests, I'd be happy to share what I know about the better parks.

I have been thinking about doing this. Think about it every February. Just gathering info so far.