Depending on where, it feels like prices are beginning to rise but that is gut feeling based on one area.
I have always wanted to buy in Summit county, we love to go up in the summer and could rent it out for most of the ski season. My investments haven't worked out (so far) so I am unable to take advantage of the lower prices we have had. I do believe that prices have hit bottom and will slowly be rising in the coming years.
After selling my third home in April 2010 I am now in the mindset of "no more home ownership". If I look back at all the money that was spent to put up a nice fence, extend a patio, plant trees, water and fertilize, etc. there is no way owning a home is an "investment" - it is truly a money pit.My new philosophy is to travel more and rent and stay at limited term places and do more exploring. I think ownership ties you down and drains people financially. Even though the prices are low, the fees and expenses still make no sense to me.so far, I've traveled to Hawaii for two weeks this past spring. If I owned a home and had a mortgage, etc. probably would have not been able to swing it.I have scaled way down. Lovin' this new decision.My point? Consider saving that money and take more fun vacations. The gas and travel time to the mountains sometimes interfers with the "relaxation bennies"....my 1 cent for today! :-)J.
I take plenty of vacations and I closed on a rental townhouse in Steamboat on Friday. If I couldn't have afforded it, I wouldn't have bought it. Heading to England in a couple of weeks for two weeks. Spent a week in southern Utah at Red Mtn Resort last month, headed to Cape Cod for two weeks in June, have Vt-Quebec bike tour in July and a bike tour in Ireland in Sept. Think I need more vacations ?Ownership of that and a couple of other properties isn't tieing me down. It is diversifying my investments.
We all have a budget we live in..... with the budget I have, I guess what I am saying I would rather travel than let a house tie me down.I know many people have rentals and all, but that's not a way I want to invest.It all depends on your pennies! :-)
We all have a budget we live in..... with the budget I have, I guess what I am saying I would rather travel than let a house tie me down.I know many people have rentals and all, but that's not a way I want to invest.You posted that you came back to TMF to learn about investing and then tried to turn this thread into a rent vs buy discussion. It's the second place you've disputed investing advice - kind of tough to learn much that way.I posted my opinion originally for anyone who had been watching mtn properties. You are probably best served by putting me in your penalty box.
I did not realize I had done that....sorry to step on your post! Enjoy your travels!
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