5 ms·
Can't you just sell it if you decide to move?
by gear54rus 4y ago
Can't you just sell it if you decide to move?
- etchalon 4y agoWhy would I risk losing money until I had to or was comfortable with?
- soperj 4y agoCosts a fair bit to buy and sell. If the price of homes isn't going up very fast often times it's cheaper to rent than even the interest costs on your mortgage would be.
- jedberg 4y agoHouses aren't quite that fungible. It takes a lot of work to prep a house to sell, you have to hope there are buyers, and it costs a lot of money to sell a house.
- xur17 4y agoYeah, at a bare minimum you're looking at 6% in agent fees.
- yamtaddle 4y agoIt's a hassle—and some folks find it more a hassle than others, due to personality or circumstance—and you lose some money to transaction costs every time you sell. Which doesn't mean you lose money overall, if the property has appreciated, but it still stings.
- it_citizen 4y agoIn my area, with reasonable assumptions it takes about 12 years before buying become better than renting. There are calculators for that online.
- carlmcqueen 4y agoPersonal response to this, despite owning a home, is that there always seems to be some reason the media/news stories are making the home market sound shaky when they're actually talking about the viability of the house flipping market. The same can be said for wall street with big reports of days that have large losses, etc when over time its generally a longer term win. I will say the value of not having to worry about your toilets, oven, etc when you're career centered has intrinsic value not tied into the money you'd make over time owning the asset. I hate having to deal with that stuff with the little free time I have.
- hammock 4y agoOr keep it and rent it
- deleted 4y ago[deleted]
- bell-cot 4y agoFWIW - if you happen to know an experienced, honest, available, & reliable home repair guy in SE Michigan...I have almost a dozen well-to-do, home-owning friends who need a whole lotta work done.