Enigma in Real Estate My fiance and I have been renting an apartment in a nice beach town for the past fours years. We have been afraid to actually do the math, and find out just how much money we have "wasted". Obviously, when buying a home, you are earning equity -- while when renting -- the money is simply gone forever. Regrettably, we have recently realized that we have wasted well over $50,000 during this 4 year span. Because we live in a vacation community next to the ocean, the prices of homes have soared. In fact, most of the homes here are not occupied by the homeowners, they are rented on a weekly basis to vacationers from all over. The average weekly rental during peak season is around $4,000 per week. This makes the limited amount of homes here not only very expensive, but also targets for investment groups. These two factors have made buying our dream home next to impossible. The realty companies and these investment groups work together for mutual be...
Posts
Showing posts from July, 2018