Advice needed.
Oct 4th 2018, 12:26 am
#16
Banned
Joined: Aug 2016
Location: Cascade Mountains, WA
Posts: 1,089
Re: Advice needed.
Air BnB or VRBO would get a better choice if you want somewhere to spend your holidays that is more like a home than a hotel. It’s an awful lot to spend for just 10
weeks a year. All that maintenance whilst it’s empty. You still have to pay the utilities even if you’re not there (internet, TV, water, sewage, gas, rubbish collection). They don’t care that you weren’t there to watch the TV or flush the loo - there’s still the standing charge to pay. Some HOAs (home owner associations) don’t like properties to be empty and some have rules such as how long your grass can grow before it has to be cut so you may even need to pay a gardener to go round every so often to keep it looking shipshape. I’m not sure what the insurance would be on a home that’s largely unoccupied - likely to be more than one that is occupied.
weeks a year. All that maintenance whilst it’s empty. You still have to pay the utilities even if you’re not there (internet, TV, water, sewage, gas, rubbish collection). They don’t care that you weren’t there to watch the TV or flush the loo - there’s still the standing charge to pay. Some HOAs (home owner associations) don’t like properties to be empty and some have rules such as how long your grass can grow before it has to be cut so you may even need to pay a gardener to go round every so often to keep it looking shipshape. I’m not sure what the insurance would be on a home that’s largely unoccupied - likely to be more than one that is occupied.
Oct 4th 2018, 12:45 am
#17
Lost in BE Cyberspace
Joined: Jul 2008
Location: Portlandia Metro
Posts: 7,425
Re: Advice needed.
Property taxes alone could possibly be as much as 2 months rent on a VRBO property. If you are planning on renting out the property that is a different story, but you would then need to file US taxes.
Oct 4th 2018, 2:25 am
#18
BE Enthusiast
Joined: Mar 2017
Posts: 315
Re: Advice needed.
My family have owned a condo in Florida for 20 years so can offer some advise.
In truth it is expensive and l know that my Dad has often regretted buying it, especially when values rocketed just before the crash but then so did his property taxes! That said, we all love it and it remains iur families favorite place to be.
I wouldn’t say that now is a great time to buy as the exchange rate is very poor and there is nothing to suggest there will be any meaningful recovery in the immediate future.
A couple of things to be aware of, if you do want to sell in the future, it is a lot more costly in the US then selling in the IK. Also if you are looking to rent out to holiday makers, check that any condos you are looking at allow it, some places have a minimum of 3 month rentals.
Where are you thinking?
In truth it is expensive and l know that my Dad has often regretted buying it, especially when values rocketed just before the crash but then so did his property taxes! That said, we all love it and it remains iur families favorite place to be.
I wouldn’t say that now is a great time to buy as the exchange rate is very poor and there is nothing to suggest there will be any meaningful recovery in the immediate future.
A couple of things to be aware of, if you do want to sell in the future, it is a lot more costly in the US then selling in the IK. Also if you are looking to rent out to holiday makers, check that any condos you are looking at allow it, some places have a minimum of 3 month rentals.
Where are you thinking?
Oct 4th 2018, 4:29 am
#19
Concierge
Joined: Apr 2001
Posts: 46,391
Re: Advice needed.
Air BnB or VRBO would get a better choice if you want somewhere to spend your holidays that is more like a home than a hotel. It’s an awful lot to spend for just 10
weeks a year. All that maintenance whilst it’s empty. You still have to pay the utilities even if you’re not there (internet, TV, water, sewage, gas, rubbish collection). They don’t care that you weren’t there to watch the TV or flush the loo - there’s still the standing charge to pay. Some HOAs (home owner associations) don’t like properties to be empty and some have rules such as how long your grass can grow before it has to be cut so you may even need to pay a gardener to go round every so often to keep it looking shipshape. I’m not sure what the insurance would be on a home that’s largely unoccupied - likely to be more than one that is occupied.
weeks a year. All that maintenance whilst it’s empty. You still have to pay the utilities even if you’re not there (internet, TV, water, sewage, gas, rubbish collection). They don’t care that you weren’t there to watch the TV or flush the loo - there’s still the standing charge to pay. Some HOAs (home owner associations) don’t like properties to be empty and some have rules such as how long your grass can grow before it has to be cut so you may even need to pay a gardener to go round every so often to keep it looking shipshape. I’m not sure what the insurance would be on a home that’s largely unoccupied - likely to be more than one that is occupied.
