So my wife and I were discussing retirement plans over the weekend. We'd both like to move back to CT once she retires, we're thinking somewhere in or around the Waterfront.
What we thought we might do is put down money on a nice place now then rent it out for the next two to three decades and have someone else pay it off for us. We already have another house in Durbanville we rent out and finding good tenants has not been a problem, place hasn't stood empty since we left it back in 2008. So it seems a solid plan to us.
Our concern however is that the rental we ask for on that house is chicken scratch compared to the rental figures we're seeing for the sorts of apartments we're looking at. Anyone with any insight into the property market in CT, are there people with money renting?
Last thing we'd want is to put money down on a place now and be stuck paying it off for however long on top of our current apartment, but it would be awesome to secure a nice place now and have someone else pay the rest off for us.
What we thought we might do is put down money on a nice place now then rent it out for the next two to three decades and have someone else pay it off for us. We already have another house in Durbanville we rent out and finding good tenants has not been a problem, place hasn't stood empty since we left it back in 2008. So it seems a solid plan to us.
Our concern however is that the rental we ask for on that house is chicken scratch compared to the rental figures we're seeing for the sorts of apartments we're looking at. Anyone with any insight into the property market in CT, are there people with money renting?
Last thing we'd want is to put money down on a place now and be stuck paying it off for however long on top of our current apartment, but it would be awesome to secure a nice place now and have someone else pay the rest off for us.
