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I stay this town 4 more years and I move.should I buy the house

john
  • September 22 2010 - Goldsboro
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Answers (5)

It depends in which City. You can lease or if the market in an specific City is better to buy. You can buy and if later on you decide to sell or maybe keep the property as an investment, at that time you have options to invest in your future.
  • September 23 2010
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Hi John, This is entirely your decision. I recommend that you talk with your financial advisor to see if this would be beneficial to you. Buying a home is a huge investment, and depending on the purchase price of the home, this may/maynot be beneficial in 4 yr turn around.
  • September 23 2010
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Profile picture for sunnyview
I think 4 years is a short time to try to recoup the costs of buying and selling. You can run the numbers to see, but my concern would be that the costs would outweigh any appreciation in that time.

However, if you can find a house that would be cash flow positive as a rental (or close) and would have to sell in 4 years then that might be workable. You just don't want to be forced to sell in 4 years when you move in case the market is flat or down.
  • September 23 2010
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Unless you find a really great buy in an area that homes seem to constantly sell.
  • September 23 2010
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Probably not. buying and selling a home incur some pretty steep expenses, close to 10% of the price between commissions closing costs, inspections etc.

Given the realities of today's market, you might not see enough or even any value appreciation in that time to offset these costs. 4 years is a short time to worry about buying and then selling again, unless the price is so low that you save a lot of money over renting.
  • September 23 2010
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