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Old 01-07-2015, 12:18 PM
 
Location: North of South, South of North
8,704 posts, read 10,893,859 times
Reputation: 5150

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Quote:
Originally Posted by Irishiis49 View Post
This couple in the op is young...I think if they plan on being in this area for at least 5 yrs. it would be better to buy a small condo for under a $100,000(2/2) say in Safety Harbor(area that holds its value)...remember these are young people not tired old people like us(52).... Renting is fine for older people who don't plan on staying or don't want the hassle of repairs(although condo's take care of exterior)...but for a young couple who can afford $1000. plus rent a month...it makes more sense to own something from the start...
They are hoping to buy at the end of the lease. They absolutely do not want to be renters. They hate it. They will always be in this area, as her family is just south and we are just north.
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Old 01-08-2015, 08:56 AM
 
Location: tampa bay
7,126 posts, read 8,647,422 times
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I guess I just don't see Safety Harbor as a big risk...flippers(yes there still some) are buying unrenovated 2/2 for $49,000 to $69,000 putting in new kitchens and updated baths and selling them 6months later for between $129,000 and $149,000. They sell really fast...I've had my eye on a few for my son...condo fees are not crazy under $300...takes care of exterior,water,insurance and trash. But I agree if they will only be there a year it's better to wait...I just remember what happened to us in NYC...we had the same plan and then got priced out and mortgage rates were at 9%...our 2 year plan became a 7year one with a kid and a dog later...lol In that time we spent about $75,000 on other peoples homes...and that was 25 yrs. ago!!!
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