- Sep 3, 2013
Awesome! Another great idea. In buying a home for personal use, I guess there's no reason why you can't turn that into rental later down the line if the math / circumstances / the way you feel about it changes.I have a home base in Europe where I spend a good amount of time.
I do not rent this one out, for now. However, I am about to rent a new apartment to live in and make my current home a short term rental.
In this market it is much cheaper to rent than to buy. For example, I looked at a new apartment yesterday that I may move to. It's 100m2, 2br/2ba penthouse with a terrace and floor to ceiling windows. It's a brand new renovation. They want €550/m plus utilities for rent, or to buy it would cost €250,000. I'd be crazy to buy at this price.
I have added 2 units this year and about to add 1-2 more (including my current home mentioned above) before the end of the year.
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I guess my main concern is being "locked down" to one spot if buying someplace to create structure and sturdy foundations, with the intention of being away from it most of the year. Only way to do it I guess is just do it, and the path will become clear.
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