We figure to keep at least one of the houses rented at all times, then sell in 10 or 15 years when the market is good again for retirement money.
We would like to keep 3 houses if we can. One to live in and 2 to sell later when the market is better.
The one we live in we will keep for retirement.
we would like to be in Florida in the winter and Oregon in the summer. In Oregon we can stay in the RV, only we will buy a new, nicer one for retirement.
If you buy a retirement home now while prices are good, you can keep it rented probably for the entire payment you will make, unless you want a great big place. We want a small 3 bedroom for retirement with a large garage.
But now really is the time to buy. We have seen homes, brand new for 100,000 that sold 2 years ago for triple that. Homes that are 5 years old on big lots for $65 to $80,000 right now in the area we like. Just way too many to choose from for us. Many are NOT foreclosure, but owners who will loose soon if they dont sell.
Payments would be so low we could easily rent for more than the payment on them. Rentals are doing great since people cant afford to buy right now. Just have to have good renters.
So giving it some serious thought would probably be a good idea. It will be awhile before things get better, so the bargains will be there for awhile.
No big hurry to buy, but keeping an eye out in case you see something you really like, then go for it
There is a Bayberry just down the street from our place for $140,000 we are giving serious thought to. That would be so convenient. We have lived in 2 Bayberry's before. They are nice homes.
well good luck, i would give it some serious thought. Buy before things start getting better if you really want a florida retirement home.
Kathy