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Old 06-08-2019, 09:16 AM
 
72,579 posts, read 72,452,347 times
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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.
e went down to check out the villages in florida a few months ago ... no place i want to live but boy they are selling homes like crazy there to new comers .. you actually have to make a reservation and go by a private bus to even see the models there are so many people looking to buy. homes were in the 300-400k range by the time you did your options .
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Old 06-08-2019, 02:06 PM
 
Location: 500 miles from home
30,217 posts, read 16,771,490 times
Reputation: 22748
Quote:
Originally Posted by theoldnorthstate View Post
I sold my house in Florida in March and am happily living in an apartment in Tennessee. I find renting very calming, although there are inconveniences that come with apartment living. I find it more economical than owning. I feel free and I like that feeling. Neighbors are friendly. Convenience is key. And the maintenance man even changes my light bulbs and refrigerator filters.

Just a better Quality of Life for me.

Speaking of QOL, If I didn't have my dog I would join you in that AirBnB in Germany. Lived there for 12 years and rented most of the time. Seriously considered staying there but children's needs came first.

Another thing, with my house I could not sit on my porch and relax. My compulsive mind always saw work that needed to be done. At this moment, I am sitting on my apartment patio surrounded by flowers, landscaping, sprinklers, pool, etc which I do not feel compelled to touch. Enjoying the peace and the mome
nt.

So waiting to see if the new wears off, but for now I am happy with renting.
I fee exactly like you said - I look out over my yard and just see work. The paver patio needs re-done; I need to pull weeds, plant more flowers, patch over those bald spots in the yard. I do not enjoy sitting in my yard.

I've been looking at condos/apartments every week-end.

I have two dogs and one of the stops me - the barking/digging Westie. I'm not sure he's condo material - although he's 13 and has mellowed a bit. He still loves to spend the evening on the back deck surveying his kingdom. The yorkie could care less - a very small patio area (which many of the condos have) would be very fine with her.

And - it's NOT going to be cheaper renting a nice apartment. But a bit more relaxing
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Old 06-09-2019, 10:00 PM
 
545 posts, read 153,289 times
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Our house is 3 times cheaper than a apartment here. We have AstroTurf so limited yard work. We can always move to a condo with everything done.
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Old 06-10-2019, 09:56 AM
 
Location: On the road
6,101 posts, read 2,968,027 times
Reputation: 11775
Quote:
Originally Posted by jim9251 View Post
I do and hate it. I have zero say in anything zero rights
Being a homeowner is no panacea to having say and rights.

Quote:
Originally Posted by jim9251 View Post
and am throwing my money away.
You aren't throwing your money away anymore than someone who buys food is throwing money away. Shelter is an expense, and an important one. The math of what comes out rent/buy has been done to death but it boils down to an incontinence issue... depends. Far too many factors to make a blanket claim one way or the other.
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Old 06-10-2019, 11:18 AM
 
72,579 posts, read 72,452,347 times
Reputation: 50087
you know as soon as someone says renting is throwing money away as a blanket statement they are not very versed in personal finance . there are just to many aspects to this calculation for a blanket statement .

usually it is those with little in assets who rent and say that and they have no choice but to pay rent and not accumulate much in wealth by any means .
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Old 06-15-2019, 08:27 AM
 
446 posts, read 196,854 times
Reputation: 622
Quote:
Originally Posted by elchevere View Post
Greetings:

Moved to Miami a few years ago from San Diego (where I owned) and was gung ho about buying a place as soon as I could when I got here.

Flash forward 2.5 years and Iím still renting and do not have a strong urge to own. I can easily afford a nice modern condo but do I want the hassles of ownership which include maintenance, possible assessments, and in the case of Miami a possible hurricane direct hit and rising sea level. Furthermore, on an $800-900K condo I figure I would need to make $75-100K profit (above what I paid) just to break even after factoring in realtor, attorney plus escrow, furniture costs etc. Will home ownership be as important to todayís teens when it comes time for me to resell the condo in 20 years or so?

If I were 30-35 and in the middle of my working career owning would make more sense. Greater flexibility and investing the dollars (I would otherwise be handing a bank as a down payment) in the stock market seems more financially prudentónot to mention a more liquid investment. Being able to pack up and move seems like a nice option.

Moving sucks, but my life is down to 6-7 boxes and I plan to continue renting furnished so it should not be as big a burden as it once was.

I am also single with no direct heirs, so I would not be leaving my property to someone upon my death.

How many feel the same way as I do and/or are in a similar position?
I'm in a similar position. I have never owned a home and never really had any desire to, other than an RV I could take with me whenever I moved so I'd never have to pack and unpack again.

I'm glad to hear you are "down to" 6-7 boxes. I have been wanting to get down to 3, but had begun to think that was pretty unrealistic. 6-7 sounds better; I'm glad to know it works for someone else.

I rent an apartment in a HUD-subsidized senior building so I never have to worry about being able to pay any utility bill -- electricity, gas, water, etc., are included in the rent; all I pay for are cable and Internet and phone.

I lived in my parents' house for a few years after they'd died -- loved the yard, hated the responsibility and having to pay for every. single. bit of maintenance/groundskeeping. They say houses are an investment -- but they don't appreciate in value if you can't afford to keep them in tip-top shape!

I visited Miami once, for the Orange Bowl, 60-odd years ago. I fell in love with the colors of the city, the quality of light, the contrasts in those. And of course the ocean ...
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Old 06-16-2019, 01:13 PM
 
700 posts, read 556,991 times
Reputation: 557
Quote:
Originally Posted by BOS2IAD View Post
Almost 2 years ago, we sold our house and moved into an apartment. That was supposed to be a temporary move until we found a condo to buy. Well...we didn't count on really liking where we were living! No sooner did we move in, we discovered many other retirees who had sold their houses and now are renting. People saw us and knew we were newcomers so they introduced themselves. My husband took a water aerobics class (which have since been discontinued ) and met many retirees. The building has events for the tenants plus a common area where one could sit and read the paper while having coffee or tea. The common area is a great way to meet new people of all ages.

One day, not long after moving in, I said to my husband "I will be sad if we move." He said "So will I". Right then and there we decided to stay here. We were in a one bedroom apartment with very little furniture (by design because we know the furniture we had in the house wouldn't fit in a condo or apartment). So...we talked and crunched the numbers and realized that, yes, we could afford a 2 bedroom apartment in the same building.

Fast forward to today --- He we are and with no regrets. For the first time in years, we have a social life. In fact, it's nagging at me that we owe some people invites to our apartment (once we're both over this nasty cold we got).

We like that if something breaks down, all we have to do is put in a maintenance request. They even change the light bulbs in the light fixtures that came with the apartment. We're glad that we don't have to rake leaves in the fall or shovel snow in the winter. We like that we can order things and not worry about the packages sitting on the front steps until we could get it. All we have to do is go to the front desk to pick them up.

While there are some things we miss about owning, overall we're glad that we're renting.

ETA: We had an interesting conversation with another retiree. He and his wife asked us how long we planned to live here. We said as long as we could. They felt the same way. He then observed that all us retirees here are in a "holding pattern" meaning what comes next? I said "There is always Sunrise" (and there is one nearby). He said, "No one ever says, I want to move to Sunrise" --- so true but we never know what life will throw at us. My aunt, who owned a condo, ended up spending her last days at Sunrise...
Sounds like you have found a great rental situation. I'm also a retiree and looking at different parts of the country. At the moment, I'm in the frozen north and will be moving out of Michigan before winter hits again.

Where do you live? I'm having quite a challenge finding good rentals as I am researching several areas of the country. DM me if you prefer, and thanks!
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Old 06-16-2019, 01:19 PM
 
700 posts, read 556,991 times
Reputation: 557
Quote:
Originally Posted by Daisy Grey View Post
The big downside to renting is being at the mercy of rent increases and the whims of the property management (and spotty maintenance)
That's a mouthful right there. I'm having quite a challenge finding "good" rentals in the areas I'm looking at. Prop mgmt companies have become very predatory, not returning deposits, showing model apts that do not resemble the actual unit you rent, revolving door front offices, bad maintenance, etc. Seems to be a problem everywhere with large prop mgmt com, especially those with multi-stat, multi-city footprints.

I prefer renting and have done both home ownership and renting during my lifetime, but as a 70 year old, I much prefer to rent and have the flexibility to move to a new location for any reason. Not interested in maintenance, upkeep, repairs, etc, associated with ownership.

What part of FL are you in? I have looked at FL myself, around the St Pete/Tampa/Sarasota area.
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Old 06-16-2019, 01:37 PM
 
700 posts, read 556,991 times
Reputation: 557
Quote:
Originally Posted by elchevere View Post
Greetings:

Moved to Miami a few years ago from San Diego (where I owned) and was gung ho about buying a place as soon as I could when I got here.

Flash forward 2.5 years and Iím still renting and do not have a strong urge to own. I can easily afford a nice modern condo but do I want the hassles of ownership which include maintenance, possible assessments, and in the case of Miami a possible hurricane direct hit and rising sea level. Furthermore, on an $800-900K condo I figure I would need to make $75-100K profit (above what I paid) just to break even after factoring in realtor, attorney plus escrow, furniture costs etc. Will home ownership be as important to todayís teens when it comes time for me to resell the condo in 20 years or so?

If I were 30-35 and in the middle of my working career owning would make more sense. Greater flexibility and investing the dollars (I would otherwise be handing a bank as a down payment) in the stock market seems more financially prudentónot to mention a more liquid investment. Being able to pack up and move seems like a nice option.

Moving sucks, but my life is down to 6-7 boxes and I plan to continue renting furnished so it should not be as big a burden as it once was.

I am also single with no direct heirs, so I would not be leaving my property to someone upon my death.

How many feel the same way as I do and/or are in a similar position?
Love your post. I'm also down to about 10 boxes, and hope to reduce it further! LOL I totally agree with your assessment of renting vs owning given all that you mentioned.

I'm also single and retired and at the moment, looking to move out of the frozen north country (Michigan). I'm researching various areas, and I've looked at the southwest side of Florida. I haven't found any good rentals online and will need to visit there to make a decision. However, I have friends that retired north of the Miami area, though they are homeowners.

What part of Miami are you in? I'm also looking to rent furnished. I have no interest in lugging/moving furniture around the country when I move my 10 boxes....or maybe fewer.

Oh, just a question about hurricanes. Did you end up evacuating for Florence or Michael? I may have those names wrong, but there was one hurricane that caused a mass evacuation out of Miami in the last couple years. Maybe it was Irma.
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Old 06-16-2019, 02:14 PM
 
700 posts, read 556,991 times
Reputation: 557
Quote:
Originally Posted by fallstaff View Post
That kind of homework is not doable. You cannot do background checks and database the behavioral patterns of every one in a neighborhood for the last 20 yrs. Secondly... all that changes when the old guard moves out the new people move in and you're left holding the bag. What you did was get lucky.

Granted "bad neighborhoods" have less refined or less well socialized denizens than upper scale neighborhood. That's what makes them bad neighborhoods. But I have known people (people whose houses I visited often) who were living in $500,000 homes 30 yrs ago "Nice neighborhood." Noisy. Pounding bass pulse all weekend. And don't ask anybody to please turn it down unless you wanted real trouble.
Teenage hooligans trespassing all the time. I have lived in borderline slums that were more genial.

You can start out looking at price. Yes indeed. Then "case the joint." But that's not a magic formula. You won't know anything until you get there.
I agree. Things change, neighborhoods change, tenants change, etc. I have friends that lived in a very nice suburb of Kansas City for 20 years, thought they would be there in retirement, and then the neighborhood went significantly downhill during their last 5 years there, so they moved much further out, bought property and built a nice home. They were looking for peace and quiet in their retirement years.

I have lived in my apt building for close to 20 years and the demographics of the building has changed dramatically over that time, as older longer term residents have moved out or passed away, a much younger crowd has moved in and the dynamics of the buildings have changed and not for the better in my view, more noise, loud cars, more density with people doubling up or tripling up in units due to rising rents.

And a medical center not too far from this apt building, which didn't generate much noise for years, decided to expand a few years ago, so their noisy construction projects have been the norm lately. Huge semi trucks up and down the road. And I won't even get started on the addition of "medical helicopters" 5 years ago. You just can't predict these things in advance.

Years ago, I owned a home in a nice neighborhood for about 10 years, and a similar situation occurred. Older residents passed away or moved on, younger families moved in with different lifestyles, bringing with it more noise, loud parties, screaming toddlers, barking dogs. It didn't necessarily go downhill, just a different demographic and different lifestyle.

Anyway, I totally agree that scoping out neighborhoods and neighbors only goes so far. You roll the dice based on what the current situation is. If it continues to work for you, great. If not, you move on, but not so easy with selling a home vs moving out of an apt.
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