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Need a house for two years. What should I do?

Relocating to a new job for a short-term assignment of 2 years. Should I buy? by JPhelps11 from Princeton, New Jersey. Jun 12th 2013 Reply


William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

only you can answer that question.. typically, there are costs associated with purchasing a home as well as selling.. if your only in the home for 2 years before selling, then between the costs to purchase it and the costs to sell it, you would be luck to break even.. (1% costs to purchase, 1% costs to sell, 6% RE commissions = 8%).. your home would have to appreciate at least 8% in the 2 years to break even... .. I’m a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Jun 12th 2013
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Manuel Gonzalez (mmortgage1)
#90 ranked lender in New Jersey - 90 contributions

Here is a great Article. Call me lets discuss it. http://realestate.aol.com/blog/2013/03/12/2013-buy-home/

Jun 12th 2013
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

only you can answer that question.. typically, there are costs associated with purchasing a home as well as selling.. if your only in the home for 2 years before selling, then between the costs to purchase it and the costs to sell it, you would be luck to break even.. (1% costs to purchase, 1% costs to sell, 6% RE commissions = 8%).. your home would have to appreciate at least 8% in the 2 years to break even... .. I’m a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Jun 12th 2013
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Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions

Lease, with 3 year option to purchase. If value goes up, sell at a profit.

Jun 12th 2013
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James Mazzola (Mazzola)
#109 ranked lender in New Jersey - 314 contributions

You have to be prepared to rent the house out if you can not sell it

Jun 12th 2013
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

I am a Direct Lender here in NJ, call me to discuss your options. Peter Botros 347 231 4444 or you can email me PBotros@OmegaLoans.net

Jun 12th 2013
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

I am a Direct Lender here in NJ, call me to discuss your options. Peter Botros 347 231 4444 or you can email me PBotros@OmegaLoans.net

Jun 12th 2013
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions

Really depends on your circumstances, how good a deal you can get on the home and how easy it will be to sell when you are ready to move. Two years is pretty short time but for some it might make sense.

Jun 13th 2013
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Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions

I suggest you rent. Assuming you buy a house at fair market value, and sell two years later... you are going to need to pay a real estate agent commissions on the sale. Because of that, in just two years, you may end up selling for a loss. If you are lucky, you might break even. If you are super lucky, you may make a super small profit. because two out of the three likely outcomes are negative, I'd say rent... and remember, this is coming from a guy who makes money if you buy....

Jun 13th 2013
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