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The primary purpose of buying a house is to live in it. Don't look at month to month price fluctuations. The minimum holding period for a house should be 5-7 ye
by supertrope 4y ago
The primary purpose of buying a house is to live in it. Don't look at month to month price fluctuations. The minimum holding period for a house should be 5-7 years due to transactions costs including realtor commission, mortgage origination fees, moving your stuff, and implicit costs like a zillion trips to the hardware store in the beginning.
- nativespecies 4y agoRight. Closing costs alone could eat away at 1-2 years of equity. You won't realize gains from a sale until the 5-7 year mark (not withstanding the last few years of fu*kery)