Real Estate is paradise... how do they do it?

[RadRob]

The only problem with renting is in the end, you have nothing to show for it. You basically threw your money down the tubes for someone to let you stay there. Granted, you have no lawn upkeep (built in the rent price) and any problems that arise are usually the leasor's responsibility, but not a wise investment choice, in my opinion. 10 years down the road, you would wish you had a house to show for all that money spent. A good point is renting is great if you plan on moving around a bit, then you aren't tied to one place.

You guys should be glad you don't live in Long Island. Makes Florida prices look like good-will. add about $250k for the same house and you could live in LI.

 

[robbcayman]

The only problem with renting is in the end, you have nothing to show for it. You basically threw your money down the tubes for someone to let you stay there. Granted, you have no lawn upkeep (built in the rent price) and any problems that arise are usually the leasor's responsibility, but not a wise investment choice, in my opinion. 10 years down the road, you would wish you had a house to show for all that money spent. A good point is renting is great if you plan on moving around a bit, then you aren't tied to one place.

You guys should be glad you don't live in Long Island. Makes Florida prices look like good-will. add about $250k for the same house and you could live in LI.

Good points!! However, by renting you can just walk away if you lose your job it's no big deal. I realize you'll never establish any equity but don't consider it an investment and it's not a huge deal. Eventually, I wouldn't mind owning property but I want to be able to pay cash. I would seriously look into the ABC's since they don't have to mess with hurricanes. No hurricanes = a lot lower insurance.

 

[flw]

We didn't go for a'sunny' paradise, but 10 years ago when the kids were still small we moved north to the Shetland Islands, where depending on how realistic you are about living on a relatively remote offshore island, the quality of life is superb, and the oil revenue has ensured a great infrastructure with some of the best schools in Scotland, a well run cheap leisure centre/pool/gym for every 2000 residents, very cheap boat moorings adn 3000miles of coastline to explore, very low crime rates etc etc.
We renovated a semi derelict stone-built house while the kids ran wild, and whilst the other half eventually moved back to mainland uk, the rest of us stayed on. I work as a clinical pharmacist, so I work at the local hospital - still only 4 days a week, so I can enjoy being out and about with the kids, messing about in boats etc - luxuries I wouldn't have had had we stayed in the city. Of course we would have been materially better off, but who cares.
Our village, about 500 people spread over about 10 square miles, still gets its share of people moving for quality of life, but many don't last unable to cope with the uncertainties of weather, ferries, flights and what can be long winters - plus the lack of (any) of the big shops
Personally it was one of the best decisons I've ever made.

 

[spartanws6]

forgive my newbieness.... ABC's?

 

[The Kraken]

Thing about it . . . if you live in paradise all the time, then it doesn't seem like paradise any more.

the K

 

[RadRob]

Thing about it . . . if you live in paradise all the time, then it doesn't seem like paradise any more.

the K

True. The grass is always greener on the other side. And no matter how good lookin a man/woman is, there is always someone tired of putting up with her. It may go from paradise to plain and simple "home." They always say winning the lottery causes major problems. But these are lessons I would like to learn for myself.

 

[deeper thoughts]

test

 

[robbcayman]

forgive my newbieness.... ABC's?

The abc islands are Aruba, Bonaire, Curacao. All are out of the hurricane belt which seems like the way to go if you ask me.

 

[spartanws6]

The abc islands are Aruba, Bonaire, Curacao. All are out of the hurricane belt which seems like the way to go if you ask me.

Interesting point.... anyone here ever bought a home in a foreign country? what was it like? differences to stateside?

 

[bradshsi]

Are we in a real estate bubble??

Yes.

It doesn't matter if it's Tulip bulbs, Tea, Internet stocks or Real Estate (all these have at one time been subject to wild speculation). If you get speculation and overpricing of an asset someones going to be left holding the bag.

www.economist.com/displaystory.cfm?story_id=5283797

From an economists viewpoint, the bursting of the real estate bubble could have rather unpleasant consequences for the US economy, given how much it's helped fuel consumer demand. But that's another story

Personally I've always found "paradise" nice to visit. but I wouldn't want to live there given the limitations noted by other posters.