So here is the storyline.   This past week, I had the usual buyer who says, 'why buy?  Shouldn't I just rent?  After all look at the costs of owning.  Sure the interest rates are low, yes I have good credit and can qualify.  Yep, I have 40+% for the down.  But why?  I mean look at the costs.  I am going to pay $3000 month in payments, the taxes are $19,000 a year, the homeowners association is $385 a month.  OK, I have $60,000 in deductions.  So what?  I can rent this same place for $2000 a month."

What do you say to that person?  So, I went to the office and ask some of my fellow agents.  You know, they said, 'yea, their right!'  'Not only are they right but they could just stay at the Hyatt Spa and Resort, have room service and spend even less'.  Several of my peers even said that is exactly what they are doing.  Selling their homes, and renting.  Some have moved to less expensive areas and took advantage of the REO's.  All had the same idea.  Reduce the big overhead of owning.

So I went home and talked to my wife, also a REALTOR and ask her the question, not about the potential or not potential buyer, the other agents, but about us.  Why are we spending just over $80,000 a year on a home that is not appreciating and who knows when that might turn around.  And add to that, how much will it appreciate?  So, now we think we will sell, take our profit, rent for awhile and travel more.  You know, a month in Australia, maybe a month in Europe and England with relatives, jump over to Ireland and Scotland.  Go back to Asia and stuff.  We have an RV and should do more travel in the US too.

OK, so we are not really in the mindset to rent.  But why not?  Maybe we should buy a little place and have a base.  You know, get ride of the big house with too much square footage for two people and go to something much smaller.  After all, the big house was with the idea that our adult kids, our family and friends from othe places would come and visit.  Well that turned out to be far less than anticipated.  We can always work those small problems out.

So if we could cut expenses in half or more that would be a good thing, right?  Heck, I'd even rent them a room or get them a condo rental for the days they are here.  Oh, by the way, we live in a resort area, so that probably makes some impact on that buyer I first mentioned.

What do you think??