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Old Yesterday, 10:36 AM
 
574 posts, read 255,054 times
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Have rentals.....and rent. Perfect for me.
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Old Today, 09:25 PM
 
Location: Grove City, Ohio
10,166 posts, read 12,459,296 times
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Great thread!

Whether to own or rent is up to the individual there is no right or wrong answer.

Quote:
Originally Posted by jmp61616 View Post
Mobile homes and condos are hard to sell. If you don't have to be in Florida, leave the state. There are some really nice college towns in the Midwest with reasonable rents. I don't need the big city anymore. I lived in Los Angeles, Atlanta, St. Louis. I'm over the whole thing. The high cost of living, the traffic, etc. At this stage it is small town living for me, and that works because the cost of living is lower and I don't need to be close to the "action" like I did when I was younger. In the small town where I work a nice one bedroom, safe area, close to the store - rents for about $650 a month.
Where we live we purchased our condo 2 1/2 years ago and the price has appreciated by 9% annually. Where we live condo's go fast and lately they get sold within 24 hours and for more than the asking price so it's good. If we wanted to sell I know it would be unloaded within 24 hours as there is an actual waiting list to purchase.

Four condo's to a building either two or three bedroom and two or three baths. The two bedrooms have a single car garage while three bedroom units have a two car garage. Important in January when it is cold and snowing.

HOA rules prohibit rentals so if you live here you own. Not a 55 community but my guess is at least 80% of owners are >60. Very quiet and gated.

The HOA takes care of all outside maintenance which includes shoveling snow off driveways and sidewalks. I never want to own a snow shovel again. If the roof goes bad the HOA pays for it but it was just replaced before we purchased with a 30 year roof so I don't have to worry about that anyway.

This thread got me curious so I looked at apartments in the area and we would spend $1,200 to get the same thing that, with real estate tax and HOA fees, runs $560. With the HOA covering everything outside our homeowners insurance is really, really cheap to the point I don't even count it. I think it is less than $100/year. Anything that rents for less than a $1,000 I wouldn't want to live in a three story unit without an elevator.

I don't see us ever leaving, we are where we will always be.
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