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Snowbirds: Try Renting Before You Buy

As a Financial Advisor in New England for more than 10 years, I’ve met with quite a few clients looking for advice on a second home to escape our most unpopular season: winter.

Usually the conversation starts with my client telling me of the deals they can find on buying a vacation home in sunny Florida. These discussions become even more popular around mid-February. While layers of clothes are shed, I hear the grumbles of “I’m sick of this weather”.

Before you sign any purchase and sales agreement on that beachfront condo, here are my reasons to try snowbird rentals first:

 

 

Yes, of course there are benefits of owning, but I encourage my clients to try snowbird rentals first. If you do fall head over heels for a place and you are ready for a long term commitment, do your homework and talk to your financial advisor about making the leap.

In the meantime summer is almost here so, go enjoy the best of New England. Native corn is tops on my list.

 

 

Sean Giles serves as Financial Advisor at StrategicPoint Investment Advisors in Providence and East Greenwich. You can e-mail him at sgiles@strategicpoint.com.

The information contained in this post is not intended as investment, tax or legal advice. StrategicPoint Investment Advisors assumes no responsibility for any action or inaction resulting from the contents herein. Sean’s opinions and comments expressed on this site are his own and may not accurately reflect those of the firm. Third party content does not reflect the view of the firm and is not reviewed for completeness or accuracy. It is provided for ease of reference.