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For most people, houses are machines for living in and not "investments". Given large up-front costs, you will almost always be in the hole for some amount of
by fiatmoney 12y ago
For most people, houses are machines for living in and not "investments". Given large up-front costs, you will almost always be in the hole for some amount of time after you purchase, but depending on what you buy and the alternative it can substantially lower your ongoing costs. Little of this has to do with year-to-year fluctuations in the housing market.
Of course, in SF, buying usually raises your ongoing costs. So...
- cliftonk 12y agoAgreed. Buy for utility rather than as an investment. If you end up making money selling the house at some point in the future net transaction costs I'd consider it a bonus. That said, IMO buying a house with the goal of selling it in a 2-5 years is foolish.