Off topic: Thinking of becoming a snowbird - Page 2

yogapam · 02-05-21, 09:43 PM

We’ve had a condo in the city for 7 years. We have used it a lot ourselves & done some Airbnb with it. There certainly are issues with city living that we don’t see in our rural area, homelessness being the primary one and petty crime goes along with it. We love parking our car and walking everywhere, enjoying city life, although not much of that this past year. But the biggest PITA for us has been the strata council, which I believe they call an HOA in the US. They can vote to change the rules about a lot of things....rental restrictions, pets, parking issues, etc. That can happen so easily when owners change & the council members change and have different priorities and want more restrictions. When we first bought everything was great & now the smallest thing can become a big issue. I think it’s nosy people with too much time on their hands, lol. We are quiet, we are hardly ever there, the unit is very often empty, & we screen any potential tenants.....but they are always looking for something to complain about.

Leonana · 02-05-21, 11:43 PM

Quote:

Originally Posted by Demeris

I live in South Eastern Arizona, which is Snowbird Central. Some people own condos, some rent houses or apartments, and some travel here in RVs and have a wide array of sites from which to choose.

I'm in the east side of the Phoenix metro area, and it's similar here. A lot of people from the north and Canada come down for the winter in RV's, and stay in parks. The parks usually have a big social life, with this year being an exception.

wishiwasinhawaii · 02-06-21, 10:14 PM

Quote:

Originally Posted by muggle

Please delete with my apologies if not allowed.

My husband and I have talked about doing this for a while now. We live in New York and would like to purchase a vacation home near a beach. I want to rent it out during spring, summer & early fall. He wants a house, not a condo or co-ownership. Does anyone else do this? Is it worth it? Pitfalls? Advantages? This is a new venture and we're not sure of anything. Any comments are appreciated.

When you say "near a beach" do you have a location in mind? I've been thinking of doing the same thing and have done quite a bit of research and the biggest issue I've found so far is finding someone to take care of each place when you're not there. If it's not too far from where you currently live then it's not as much of an issue, but if it's far, then it could be. Also, are you planning to move to this vacation home at some point and make it your sole residence?

muggle · 02-07-21, 08:29 AM

Quote:

Originally Posted by wishiwasinhawaii

When you say "near a beach" do you have a location in mind? I've been thinking of doing the same thing and have done quite a bit of research and the biggest issue I've found so far is finding someone to take care of each place when you're not there. If it's not too far from where you currently live then it's not as much of an issue, but if it's far, then it could be. Also, are you planning to move to this vacation home at some point and make it your sole residence?

We’re thinking of North or South Carolina. There are real estate management companies that take care of things for you. Their fees vary and some are as much as 30% of the income you make. I also learned that if you rent your place for more than 14 days it’s considered a business and you pay taxes. But There are also a lot of tax breaks for it too (maintenance etc). As far as moving there permanently, probably but I’m not sure.

wishiwasinhawaii · 02-07-21, 10:19 AM

Quote:

Originally Posted by muggle

We’re thinking of North or South Carolina. There are real estate management companies that take care of things for you. Their fees vary and some are as much as 30% of the income you make. I also learned that if you rent your place for more than 14 days it’s considered a business and you pay taxes. But There are also a lot of tax breaks for it too (maintenance etc). As far as moving there permanently, probably but I’m not sure.

Ok, thanks for clarifying. I personally don't want to deal with tenants so renting out the place is not something I'm interested in, mainly for the reasons BigBadBetty mentioned earlier in this thread. I have a friend who owns a condo with her husband that they rent out and it's been a nightmare dealing with tenants, so they are in the process of selling the condo.

schoolgirl-01 · 02-07-21, 07:11 PM

i would not recommend it.

we plan on selling are florida home because the home owners insurance has gone thru the roof. our home owners insurance is $8,000 due to hurricanes plus the property taxes are $10,000.

we have to pay more insurance for renting it out when we aren't here and it's very hard to get anyone who wants to rent for a few months out of the year. so we ended up renting short term which was a nightmare. they would trash the place by having parties, neighbors and town would fine us.

needless to say we stopped renting - it wasn't worth the extra cost in insurance (to rent it out the insurance went from $8,000 to $11,000), the headache, and the bad blood with neighbors/town.

we only spend about 4 months here and the cost just isn't worth it

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02-05-21, 09:43 PM
yogapam VF Supporter Join Date: Oct 2006 Location: West coast of Canada, eh. ;)	We’ve had a condo in the city for 7 years. We have used it a lot ourselves & done some Airbnb with it. There certainly are issues with city living that we don’t see in our rural area, homelessness being the primary one and petty crime goes along with it. We love parking our car and walking everywhere, enjoying city life, although not much of that this past year. But the biggest PITA for us has been the strata council, which I believe they call an HOA in the US. They can vote to change the rules about a lot of things....rental restrictions, pets, parking issues, etc. That can happen so easily when owners change & the council members change and have different priorities and want more restrictions. When we first bought everything was great & now the smallest thing can become a big issue. I think it’s nosy people with too much time on their hands, lol. We are quiet, we are hardly ever there, the unit is very often empty, & we screen any potential tenants.....but they are always looking for something to complain about. __________________ **~Pam~** Certified Level 4 Essentrics Instructor - March 2021 Hatha YTT - 2011 Your body keeps an accurate journal regardless of what you write down..... "Take care of your body. It's the only place you have to live." Jim Rohn "It’s not what we do once in a while that shapes our lives, but what we do consistently.” - Tony Robbins Check out my Instagram account, @fitness.ficti0n.inspirati0n

02-07-21, 07:11 PM
schoolgirl-01 Join Date: Sep 2002 Location: Parkland, FL	i would not recommend it. we plan on selling are florida home because the home owners insurance has gone thru the roof. our home owners insurance is $8,000 due to hurricanes plus the property taxes are $10,000. we have to pay more insurance for renting it out when we aren't here and it's very hard to get anyone who wants to rent for a few months out of the year. so we ended up renting short term which was a nightmare. they would trash the place by having parties, neighbors and town would fine us. needless to say we stopped renting - it wasn't worth the extra cost in insurance (to rent it out the insurance went from $8,000 to $11,000), the headache, and the bad blood with neighbors/town. we only spend about 4 months here and the cost just isn't worth it