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lorich
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Member since 6/05 9987 total posts
Name:
Grammie says "Lora Gina"
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Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
To be more descriptive, both myself and two other couples are renters.
We cannot afford homes in our areas (yet), but all have leads and are looking to buy in other areas as "2nd" homes/vacations spots.
What are your takes?
Pros/Cons...
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Posted 8/10/06 11:40 AM  |
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Prudential Douglas Elliman Real Estate
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
I think that is a GREAT idea!! and you would get all the benefits of tax write offs!  
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| Posted 8/10/06 11:41 AM |
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Lisa
I'm a PANK!!!
Member since 5/05 22334 total posts
Name:
Professional Aunts No Kids
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
My girlfriend bought a vacation home in the Poconos while still living at home with her father. Its a good move!!
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| Posted 8/10/06 11:42 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
we almost did that- I don't see anything wrong with it
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| Posted 8/10/06 11:42 AM |
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lorich
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Member since 6/05 9987 total posts
Name:
Grammie says "Lora Gina"
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
AWESOME!
I think this is going to be so positive for us...and my family.
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| Posted 8/10/06 11:45 AM |
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lululu
LIF Adult
Member since 7/05 9509 total posts
Name:
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
I bought a vacation home in vermont long before i bought my first primary residence! it was much cheaper than buying a house around here. It was a great investment, though it is a lot of work to maintain a property that is far away..... But still worth it! (I sold it after 4 years and made a TON of money on it!)
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| Posted 8/10/06 12:15 PM |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
I think that's a great idea.
Buying real estate - for whatever purpose - is a great investment for the future! 
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| Posted 8/10/06 12:53 PM |
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Tine73
Member since 3/06 22093 total posts
Name:
*********
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
No not at all......A couple has been renting out the apt above my grandma for literally like 20 years but they own 2 other homes - one in italy and one in PA.
Go for it!
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| Posted 8/10/06 1:15 PM |
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Sassyz75
Turning a new page
Member since 5/05 9731 total posts
Name:
Dina
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
I know people who have done this.
Me and DH might do this soon as well.
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| Posted 8/10/06 1:21 PM |
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dpli
Daylight savings :)
Member since 5/05 13973 total posts
Name:
D
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
I would consider this idea if I decided not to have children. We would stay in the apt. during the week and use the house on weekends. I know another childless couple who considered doing this as well. If I had children, though, I would want a house with a yard for them everyday 
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| Posted 8/10/06 1:43 PM |
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lorich
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Member since 6/05 9987 total posts
Name:
Grammie says "Lora Gina"
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
Thank you all...news I'm happy to hear!
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| Posted 8/10/06 2:14 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
I think it's a great idea.
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| Posted 8/10/06 4:41 PM |
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lorich
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Member since 6/05 9987 total posts
Name:
Grammie says "Lora Gina"
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
Posted by Blu-ize
I think it's a great idea.
Your FMs helped a lot in making this decision... I will be eternally grateful!
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| Posted 8/10/06 4:50 PM |
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MABLE03
I <3 SATC
Member since 6/06 4563 total posts
Name:
Fabulous
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
Posted by Blu-ize
I think it's a great idea.
I agree! Good Luck!
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| Posted 8/10/06 4:59 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
Posted by lorich
Posted by Blu-ize
I think it's a great idea.
Your FMs helped a lot in making this decision... I will be eternally grateful!
Keep Fming..I'm happy to help.
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| Posted 8/10/06 5:22 PM |
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lorich
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Member since 6/05 9987 total posts
Name:
Grammie says "Lora Gina"
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
Sooo.....I've discussed this with the "seller" My Dad...and he's 100% for it. Now to convince my Brother.....I'm sure cash in his pocket will not be a hard sell.
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| Posted 8/11/06 9:00 AM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
Posted by lorich
Sooo.....I've discussed this with the "seller" My Dad...and he's 100% for it. Now to convince my Brother.....I'm sure cash in his pocket will not be a hard sell.
YAY! I am so happy for you sweetie!!! 
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| Posted 8/11/06 9:16 AM |
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Eva Luna
Be kind...life's hard!
Member since 8/05 4750 total posts
Name:
God, bless & heal my DH, JenG's DH Rob & DebG
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
Yeah Lori...owning a home is a beautiful thing...no matter where!  Congrats!
Oh...and how awesome will it be for your kids to go to the house where you grew up in during the FALL!  
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| Posted 8/11/06 9:23 AM |
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vegalady
Love my family
Member since 6/06 4546 total posts
Name:
SNV
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
DH and I have two vacation homes that we rent out and one primary home (not finished yet its being built) So yeah go for it. Its a great way to invest.
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| Posted 8/11/06 11:47 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Hmmm...Is it a little weird to rent your primary residence and own a secondary residence?
Posted by lorich
Sooo.....I've discussed this with the "seller" My Dad...and he's 100% for it. Now to convince my Brother.....I'm sure cash in his pocket will not be a hard sell.
Fabuulous! When is the housewarming? I can have my bags packed in about an hr.
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| Posted 8/11/06 11:48 AM |
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