Relocating Within The Next Three Years

Relocating Within The Next Three Years

Posted in the Real Estate Forum

Since: Dec 11

Mumbai, India

#1 Jun 19, 2012
There is a cost of home ownership that is above and beyond the purchase price. We refer to these as “real estate closing costs,” and you have them when you buy, and you have them when you sell. The normal break-even point usually occurs after owning the home for 3 to 5 years, so if you are positive you will want to sell within the next three years, most likely home ownership is not the cheapest solution.
Of course, now that we have the Homebuyer Tax Credit, that should be taken into consideration as well, but I suspect anything under 3 years of ownership will cost more than an equivalent rental opportunity (if there is an equivalent rental opportunity)

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