Some calculations or analysis would be good in this case ... such as charts or comparison data.
Short term and long term ideas plz !!
2006-09-11 06:55:54 · 5 answers · asked by int_69h 3 in Business & Finance ➔ Renting & Real Estate
I would rent. Buying property in this country anymore, is a joke. Especially on the coast lines. By the time property taxes have racked you over the coals and those never ending home repairs has sucked out your equity, will heck...why buy?
I live in north Florida and was raised two blocks away from the ocean. I have not in my 34 years of living here, seen a hurricane hit were I live. However, on the gulf coast, in St. Pete! Lord, why bother? By the time the insurance company has beaten you to death with legal fees, so they don't have to pay you when a hurricane comes and takes your home away, you will have nothing left to show for buying a home! Then when you get old and retire, that home you were going to will off to you kids will be taken by medicare to pay for you nursing home bills.
Unless of course, you are in the top 5% of the wealthy people in this country, than by all means, feel free to buy.
This is all my opinion of course, sorry I didn't bring my economic charts with me.
Good Luck
2006-09-11 07:09:36 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Depends on what is more important to you. If you buy, you may realize a profit when you sell. However, buying has a lot of carrying costs associated with it: Your down payment is tied up in the real property, you have no liquidity even if your home value rises, you have to pay property taxes and insurance fees and you have to worry about the liability associated with owning the home. If you rent, you have almost none of those concerns and your capital can be invested in something more liquid.
You also want to get a good understanding of where your market it? How long has the average home been on the market? Have prices dropped or stabalized? You don't want to buy at the peak.
2006-09-11 14:09:09 · answer #2 · answered by Robin A. 3 · 0⤊ 0⤋
Renting is good only if you know you not going to be staying on one spot.. but other then that really.. your wasting your money in something you WILL NEVER OWN.. try a rent to buy type thing live there and pay by rent if you like it buy it and all that rent money you put down is your down payment.. and if you dont like it move !!!! i find it easier that way.
2006-09-11 14:00:25 · answer #3 · answered by lynn m 2 · 0⤊ 0⤋
u should buy because i live in ny and everything here is expensive, a mortgage in florida is rent in new york
2006-09-11 14:12:50 · answer #4 · answered by roddy414 2 · 0⤊ 0⤋
i have a friend in fl.his property doubled in 2 years...buy,buy,buy
2006-09-11 14:02:30 · answer #5 · answered by john doe 5 · 0⤊ 0⤋