Is Anyone Else Cheap Like Me?

[Mom2TwoYorkies]

I cannot help it, I really can't . . .I am sooooo extremely tight with money. I don't shop for myself unless it is absolutely necessary, we don't eat out, we budget, etc . . .

Right now my husband is kind of mad at me because I don't agree with purchasing a home in Florida, but ONLY because I do not want to put out the 20%. I just can't justify it . . .as good as it sounds and how awesome it would be to have a 2nd home in Florida, I just don't want to part with the $$. It took me almost my entire 23 years of marriage to save up money, little at a time, and I can't justify it . . .I'm sooooo at myself.

We are in Florida at least three times a year (Disney) and when Hub retires in 7 years he wants to be snow birds and live there in the Winter . . .the market is AWESOME right now down there and the house prices are completely doable! Before I found out I needed to put out the 20% I was all for it . . .but now I think I need to reprogram my brain or something.

Ugh!

[Vinniedoggy]

Personally, I think you're just darn smart We are the same way (frugal). While we do eat out and shop for ourselves, we live far below our means and are perfectly happy as a result. It means that we never stress about money and are always able to do what we want to do. I would not trade being a tad frugal for anything in the world. Indulge in the small pleasures, but I agree that a second house is just not worth the time and expense!

[chachi]

Im cheap but I would give anything to have a house in Florida so Id buy the house

[babiehammer]

I myself am cheap. I'm one of the cheapest / frugalista 22 yr olds I know!

Free samples and freecycling are a daily thing of mine! Ha!

The market is definitely the time to BUY BUY BUY but its such a tough decision!

[Nancy1999]

The market is awesome right now, so that means NOW is a great time to buy. You visit three times a year anyway, and you'll save on hotel bills. Lot's of tax right-offs and there are companies that will rent your place and handle all the problems, if that's what you choose to do. I would look at home as an investment and tell a realtor your plans. Maybe even a condo in a great area is a better choice. They are very easy to rent. To me, this would be just another way to save money, because home investment and land investment are great investments! Investing in a real estate is not the same as buying a car, which goes down in value as soon as you drive it off the lot. Remember the three rules of real estate when you are looking for investment potential, (1.) location (2.) location (3.) location.

[Roccosmommy]

Originally Posted by Nancy1999

The market is awesome right now, so that means NOW is a great time to buy. You visit three times a year anyway, and you'll save on hotel bills. Lot's of tax right-offs and there are companies that will rent your place and handle all the problems, if that's what you choose to do. I would look at home as an investment and tell a realtor your plans. Maybe even a condo in a great area is a better choice. They are very easy to rent. To me, this would be just another way to save money, because home investment and land investment are great investments! Investing in a real estate is not the same as buying a car, which goes down in value as soon as you drive it off the lot. Remember the three rules of real estate when you are looking for investment potential, (1.) location (2.) location (3.) location.

I agree with Nancy 100%, especially about the condo...not so many maintenance worries while you are not there. How lucky you are to be faced with such a decision. Good luck in whatever you decide

P.S. I too am frugal, mostly by force not choice. My 2 kids don't ever leave much money left over for ME

[Mom2TwoYorkies]

LOL . . .ok, I'm hearing my husband in many of the responses . . . I like the condo idea, but my husband is a yard putterer and wants to do his own landscaping and such. . .he won't even consider a condo . . . We would not rent it while we aren't there . . .only because I hate the whole renting thing . . .Especially when I'm in Connecticut and will be worrying what my short term rental vacationers are doing in the house. We'd save money by not staying on Disney property for sure, but then I'll be missing the resort feel . . . ugh I'm so torn on this . . .I truly am . . .I don't have to fill out the pre-approval with the bank til after Labor Day so I guess I'm going to drive myself nuts til then trying to figure out what I'm going to do.

[Mom2TwoYorkies]

Originally Posted by Roccosmommy

I agree with Nancy 100%, especially about the condo...not so many maintenance worries while you are not there. How lucky you are to be faced with such a decision. Good luck in whatever you decide

P.S. I too am frugal, mostly by force not choice. My 2 kids don't ever leave much money left over for ME

See, our kids are older, so trust me, that makes a HUGE difference! We are almost empty nesters . . . Our daughter will be 21 and lives with her boyfriend and our son is entering his last year of high school . . .It makes a very large difference when it is just back to being a couple again . . .<sigh>

[Roccosmommy]

Originally Posted by Mom2TwoYorkies

See, our kids are older, so trust me, that makes a HUGE difference! We are almost empty nesters . . . Our daughter will be 21 and lives with her boyfriend and our son is entering his last year of high school . . .It makes a very large difference when it is just back to being a couple again . . .<sigh>

Lol..I want to be just like you when I grow up . I too would love to have a second house someday. But if you'll miss the 'resort feel' of Disney (in your previous post), did you actually caculate how much it would cost to go to a Disney resort a few times a year, compared to the cost of a home (mortgage, taxes, upkeep, insurance, emergency repairs, etc.)? You might be better off just spending the same money and going a few times a year or rent a condo for a few weeks during the winter, especially without kids!

[Maximo]

Originally Posted by Nancy1999

The market is awesome right now, so that means NOW is a great time to buy. You visit three times a year anyway, and you'll save on hotel bills. Lot's of tax right-offs and there are companies that will rent your place and handle all the problems, if that's what you choose to do. I would look at home as an investment and tell a realtor your plans. Maybe even a condo in a great area is a better choice. They are very easy to rent. To me, this would be just another way to save money, because home investment and land investment are great investments! Investing in a real estate is not the same as buying a car, which goes down in value as soon as you drive it off the lot. Remember the three rules of real estate when you are looking for investment potential, (1.) location (2.) location (3.) location.

Pray that Congress does not eliminate the mortgage interest deduction.

[Nancy1999]

Originally Posted by Mom2TwoYorkies

LOL . . .ok, I'm hearing my husband in many of the responses . . . I like the condo idea, but my husband is a yard putterer and wants to do his own landscaping and such. . .he won't even consider a condo . . . We would not rent it while we aren't there . . .only because I hate the whole renting thing . . .Especially when I'm in Connecticut and will be worrying what my short term rental vacationers are doing in the house. We'd save money by not staying on Disney property for sure, but then I'll be missing the resort feel . . . ugh I'm so torn on this . . .I truly am . . .I don't have to fill out the pre-approval with the bank til after Labor Day so I guess I'm going to drive myself nuts til then trying to figure out what I'm going to do.

I'd find a good realtor and tell them your concerns. For example, there are patio homes with a yard that is manageable, but not overwhelming. The point of buying now is that when you are ready to actually move down there, you will already own something and you won't be priced out of the market should prices go sky high. My son rents a condo, and the rental place does everything, from finding the clients, to cleaning it in between, this works very well if it's a furnished place. Lots of people want to rent a place for a month. Granted he's not raking in the money, but someone else is paying most of his mortgage, so it's a win/win situation. You need to tell yourself, it's not splurging to buy a second home; it's really a great investment.

[yorkieusa]

If you decide to buy, be sure to first inquire about the insurance costs.

[Mom2TwoYorkies]

Originally Posted by yorkieusa

If you decide to buy, be sure to first inquire about the insurance costs.

And HOA fees and taxes, etc . . .thing I don't like about a lot of properties I've seen is deed restrictions and HOA fees, etc etc . . .You gotta see the number of foreclosed properties down there . .. you can get a 3/2 for as little as $75k some even have an enclosed in-ground pool . .in a good neighborhood outside of Orlando. . . We were looking into the Minneola/Clermont and Groveland areas . . .but everything is foreclosure and/or short sales . . .it's amazing really . . .

[Debbier2010]

I agree with being cheap but don't forget a house is a investment and when the market and this economy gets better you can sell and make double your money.....