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Old 03-01-2008, 09:34 AM
 
2 posts, read 5,099 times
Reputation: 10

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Hello everyone this forum is fantastic!
My wife and I are moving from the northeast to tampa and don't know if we should rent or buy a townhouse/3BR house. Here is the KEY issue. My wife and I will be there for a minimum of 3 years only as I am in a special research track at the USF medical center but after 3 years we may have to move where I find a job. My wife is a legal assistant who found a job near the airport.

I heard real estate agents tell me we can get houses with sellers paying closing costs and able to reduce a huge amount from asking prices to essentially make a 200k house close to renting a similar place. I don't want to be stuck with a place in 3yrs in case we move, but it could be good investment???

We are looking in Carrollwood/citrus park/lutz so we can be inbetween both of our workplaces( near airport and USF).

Any HONEST thoughts because this is a tough one due to unknown timeline.

Thanks a lot and I welcome the friendliness outside of the nasty northeast!
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Old 03-01-2008, 12:23 PM
 
Location: Wesley Chapel, FL
68 posts, read 288,885 times
Reputation: 43
I would rent... especially if you can secure a long-term lease at low prices. Housing prices have come down, but they're still nowhere close to the SF rental market once you figure in CDD, taxes, insurance, maintenance, etc.
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Old 03-01-2008, 06:36 PM
 
Location: East Tennessee
3,928 posts, read 11,601,624 times
Reputation: 5260
Well, if I were clairvoyant, we'd know for sure...ha! I'm not going to suggest what you should do, it's your decision. It is difficult to find anything under $1,000 per month. Assuming you rent for 3 years, that's $36,000. But at this point in time, breaking a lease would be easier than selling a home.
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Old 03-01-2008, 07:21 PM
 
2 posts, read 5,099 times
Reputation: 10
I spoke with a financial advisor(best friend's dad) and he gave outstanding advice. He said that although the closing costs and broker fees would be severely cut now that when I go and sell the house in 3 yrs MY WIFE AND I would then be the seller to pay for closing costs and real estate agents and over 3 yrs is not enough time to have our house appreciate or more likely depreciate in time to incur high expenses at 3 yrs time. I thought about it and no brainer is to rent and not worry about incurring high costs after 3yrs, no worry about insurance, taxes and repairs.

Done.
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Old 03-02-2008, 09:06 AM
 
79 posts, read 331,036 times
Reputation: 44
Default If life were that easy....

Good point from your friend's dad. But, you'll probably know within a few months if Tampa is a place you'll want to stay long term. If you come here and decide this is the place for you, then buy something within the next year or so. I suspect buyers will still be in a very good place and housing prices have not bottomed out yet.

I too am from NYC. Been here about 1 month now. Renting a townhouse in Carrollwood (nice area). Compared to NYC, housing costs here are extremely attractive. You'll see...

So far, the weather's been beautiful!
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