I have this impression that it’s seen as a riskier decision to buy a home, knowing you won’t live in it long enough to pay off the mortgage and then sell it when you’re ready to move away, when compared to renting a home. Am I off base on that, and if so, why is this the case?
In: Economics
This happened to me three times in a row: I got a job and then bought a house and then lost my job in 2 years and sold my house for a $50,000 profit.
It is the greatest thing ever. But… I was lucky to be living in Portland where the real estate prices were booming. If the real estate market was busting, I might have lost money.
So… it’s a great idea but there a variables that might leave you in trouble.
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