Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I’m not a real estate agent or even all that knowledgeable about it. But I would rent until I found the perfect place and reevaluate. I’m guessing the market drops at least a bit, rather than continues up, though. For 400k you should be delighted with your choice.
My husband and I are trying to decide what to do now that we are both about to retire this year.
We always planned a second home in Florida( Sarasota/ Bradenton area) and hoped to spend mid to high 400,000k only.
I'm eying the sky rocketing prices nervously and wonder what to do as that amount of money doesn't seem to get you very far!
What have other done?
Changed location? ( any tips for better value)
Decided just to rent?
Wait out the market?
This is a big financial and life style decision and I would welcome comments/ insights.
In general, housing prices in Florida aren't bad compared to many areas of the country. That said, not every location in Florida has equally priced housing. I suggest that you decide how much you can afford to spend and then start looking for places that are accommodative of your price range. They may be a short drive (30 to 60 minutes) away from the more expensive areas. If you MUST live in an expensive area, then you may have to settle for less house than if you are more flexible on the location.
Being just outside the expensive areas doesn't necessarily mean "undesirable". It just means that some people value different things differently. The sunshine and fresh air is free for everyone regardless what you paid for your place or if you're just passing through.
I’m not a real estate agent or even all that knowledgeable about it. But I would rent until I found the perfect place and reevaluate. I’m guessing the market drops at least a bit, rather than continues up, though. For 400k you should be delighted with your choice.
Agree but interest rates will also be going up making it 6 one way, a half dozen the other. Unless OP is paying cash?
Whatever advice I offer, I'd recommend you do the opposite, lol.
I'm going to sell 2 of my Florida rentals this year. Values are well above what I paid. I thought I might keep them a little while longer but the time is right to sell. I'll use the funds for travel and a few days on the water with a fishing guide.
Unless you have to move, I would wait out the market. I never want to be buying in a seriously hot market. It's great if you get in on the start of that but the market has been at fever pitch for about 18 months now. It is a great time to sell, of course, but I'm not interested in getting raked over the calls on the buying side and fortunately I don't have to make a move.
Unless you have to move, I would wait out the market. I never want to be buying in a seriously hot market. It's great if you get in on the start of that but the market has been at fever pitch for about 18 months now. It is a great time to sell, of course, but I'm not interested in getting raked over the calls on the buying side and fortunately I don't have to make a move.
Or rent. Plenty of rentals available now, both furnished and unfurnished. If you are renting it doesn’t have to be perfect.
If it were me, I’d rent a smaller place in the better location to see how it felt living in smaller quarters and if it would work for you permanently.
I found out I like living in less space as I get older and convenient location is more important. YMMV.
Or rent. Plenty of rentals available now, both furnished and unfurnished. If you are renting it doesn’t have to be perfect.
If it were me, I’d rent a smaller place in the better location to see how it felt living in smaller quarters and if it would work for you permanently.
I found out I like living in less space as I get older and convenient location is more important. YMMV.
The problem is that rent is rising to ridiculous levels in nice areas here. My friend rented her home for 5k a month, nothing special about the house and it's on the smaller side, but it's located in a nice area.
Changed location? ( any tips for better value)
Decided just to rent?
Wait out the market?
I am in a similar situation and the money I planned to spend a year ago does not buy what it did then. I am going to remain where I am until I see what happens over the next year, or so. I have already researched and decided where I want to go, so I do not want to move to a different location. If I absolutely had to leave my current location, I would rent. I have read articles which suggest waiting and that is what I will do. I wish you luck in your decision.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
