Back in Chicago after spending a week in Southern Florida. One of my blogs talked about the purchase of a condo in Wilton Manors. I have made up my mind. Buying an additional property in Florida would be a bad idea. I have the money to buy a condo. Thats not the issue. Property should be bought if it will be used most of the year. To be honest, I would have plenty to do in Chicago from June to January. The only time I would like to be out of town would be in the Winter and Spring months. Having a property sit unused for several months of the year is not a good idea. Utilities, monthly assessments, taxes, home owners insurance, and flood insurance would have be paid whether Im there to enjoy the property, or Im miles away in Chicago. Once purchased, the place would have to be furnished with furniture, electronics, and basic household goods. Damage from tropical storms and hurricanes would also have to be a consideration as well. Buying a property also entails a long term commitment to spending time in Wilton Manors. While I like the place a lot, do I really want to vacation there every year? Not owning a property would give me the opportunity to travel to different places, if I choose to do so. It was fun considering the idea, but unfortunately, reality is a stern task master.
Posted on: Mon, 11 Aug 2014 19:14:26 +0000
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