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> That also means if they sold it right now at that $20k "loss" then they effectively paid $333/month plus upkeep to live somewhere for 5 years! This also igno
by hylaride 2mo ago
> That also means if they sold it right now at that $20k "loss" then they effectively paid $333/month plus upkeep to live somewhere for 5 years!
This also ignores the costs in buying/selling, including agent fees, lawyers, etc. You should probably only buy if you plan on living in a single place for at least a decade.
- petcat 2mo agoUnless you are willing to enter into some kind of a special arrangement, closing costs are almost always negotiated and usually paid by the seller.
- mancerayder 2mo agoThat isn't true. States levy taxes and buyers brokers are a thing in some states, and in some cases they're less fully paid by seller (less than the customary 2.5-3, leaving buyer to provide 1 or 1.5). Closing costs include mortgage costs, too. I've only ever heard of that stuff paid by seller if seller was a sponsor, and the market was a down market. Think new build in 2020 or in a depressed housing market today.