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/u/mop553
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My job is in the US, my family is in Europe. For a number of reasons, we've decided for the family to stay back while I will split my time between both continents. This will mean 3 weeks in the US, 2 weeks in Europe, on a recurring basis. It looks like this arrangement will be going on for the next couple years (if I had to guess, 3-4). After that, it's unclear - maybe the family will join, but that's not for certain.
Normally this would clearly be a situation where I'd rent something in the US, like a 1-2 BR apartment, to remain flexible and align the living situation with needs.
However, I'm contemplating if instead it might be better for me to buy a home... And here's why:
On the flip side of course there's the fact that I will regularly be gone for 2 weeks at a time, which isn't ideal with maintenance. But maybe it's doable?
Not sure if there's advice you could give for my situation. Maybe someone had a 2nd home and would make the same choice again - or absolutely not. Thanks in advance!
submitted by /u/mop553
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Buy or rent my second home?
Continue reading...
Normally this would clearly be a situation where I'd rent something in the US, like a 1-2 BR apartment, to remain flexible and align the living situation with needs.
However, I'm contemplating if instead it might be better for me to buy a home... And here's why:
- Rent for a good apartment is pretty expensive in the area I'm looking at. Mortgage would still be 30-35% higher but generating property is an advantage
- We've moved around a lot over the years, always held off on buying because of it - which multiple times in hindsight wasn't a great idea, given lost appreciation potential and situations like the pandemic
- I've been a renter almost all my life, despite having good income and being very well able to afford property. Aside of the financial aspects, I'm so done with renting / landlords / shared walls in general... Always wanted to own my home
On the flip side of course there's the fact that I will regularly be gone for 2 weeks at a time, which isn't ideal with maintenance. But maybe it's doable?
Not sure if there's advice you could give for my situation. Maybe someone had a 2nd home and would make the same choice again - or absolutely not. Thanks in advance!
submitted by /u/mop553
[link] [comments]
Buy or rent my second home?
Continue reading...