For example, my wife and I went to Orlando for our honeymoon and we stated at Sheraton Vistana Villages.
#PV BEANCOUNTER FULL#
And they will go up over time.ĭon't get me wrong, I love real estate and I have some of my own investment/rental properties, but I own the units entirely (in comparison to only having ownership to part of a building with a condo), I have full control of my expenses, and they are in Canada. It's not uncommon for regular condos to charge between $600-$900 per month in expenses. On top of the purchase, it's almost as though you've committed to an additional mortgage. My wife and I recently thought about the idea of buying a condo in Myrtle beach of Florida but after evaluating things, it just doesn't make sense for us despite the attractive purchase prices that can be seen in many areas in the U.S.įor one thing, property taxes for foreigners can be substantial depending on the state, and with a condo, what really irks us the most is the uncertainty involved in the monthly expenses for a condo. I guess it’s different strokes for different folks, with future travel plans and lifestyle a determining factor. I would be interested to know if the Avery’s and Griffiths’ plan to travel the world in addition to carrying these properties? It sounds like both these couples are happy to spend their time in their dream homes. vacation property purchase solely as an investment, working with the assumption the property will increase in value greater the the yearly excess carrying costs. I have not ruled out that possibility yet.
#PV BEANCOUNTER FREE#
vacation property now, we would feel beholden to using that property and we want to be free of any real estate shackles.Īlternatively, we could just look at a U.S. My wife and I feel that if we purchase a U.S. The second reason, and the more important reason, is that I have several places in the world I intend to visit over the next fifteen or so years, including Africa, Australia, the Baltic, Greenland and Bora Bora. income tax return every year, although that is not a deterrent on its own. In addition, I would prefer to not have to deal with the IRS and file a U.S. With the glut of homes for rent in Florida and Arizona, I am not sure how much rental income one can count on in the near future. property taxes for Canadians are typically very substantial and taken together with the other carrying costs such as management fees, interest, insurance and utilities, my budget estimates put me in the red several thousand dollars a year, even if I could rent the property a month or two. That is not to say the Avery's and Griffith's have not made the best investment and/or personal home buying decision of their lives, it is just in my personal circumstances, it is still not the time to buy a retirement property. properties, some of whom have bought multiple properties as pure investments, interestingly, only one of my friends has followed through with a U.S.
vacation property.Īlthough professionally I know of several people who have purchased U.S. We have also had this discussion with several friends who are also considering purchasing a U.S.
property while the prices are seemingly low and there are distress sales. I found the articles interesting, as like many Canadians, my wife and I have bandied around the idea of looking for a U.S. The Toronto Star’s Moneyville section recently had two stories on purchasing property in the U.S., the first by Roberta Avery who purchased a home in Sedona, Arizona and the second by Alison Griffiths who purchased a farm in Florida.
0 kommentar(er)
