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Real Estate
Reply to "Is this a crazy idea? A twist on the rent vs. buy question"
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[quote=Anonymous]You also need to have a plan for the worse case scenario: renters from hell that do the worst possible damage to your house. (There is another poster on one of these forums: the brother or cousin apparently caused MASSIVE damage to the place he was renting $70K worth of damage and has NO $ so the homeowners are screwed.) Personally, I think it would be a pain to move back and forth. And you cannot guarantee that your home will appreciate significantly. My ILs had a house worth about half a mil. We encouraged them to sell and move to our state. They dragged their feet and sold their house at the wrong time (value dropped significantly- they barely made enough to pay off their 2 mortgages.) And the second mistake they made was to purchase in our area at the height of the real estate boom. They spent way too much and they are very much underwater on their house. [/quote]
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