\
  The most prestigious law school admissions discussion board in the world.
BackRefresh Options Favorite

Why do people say not to buy a house and then move in 2-3 years?

ESP in California’s where houses appreciate decently e...
Poppy Temple Faggotry
  05/03/21
...
Poppy Temple Faggotry
  05/03/21
Closing costs, agent fees are high
floppy feces
  05/03/21
Is it usually 6-8% for closing costs? Maybe I can buy an...
Poppy Temple Faggotry
  05/03/21
agent commission is usually 5% of purchase price. not sure h...
obsidian fluffy juggernaut
  05/03/21
Because unless you're in an area with significantly apprecia...
Soul-stirring Genital Piercing Cuckold
  05/03/21
...
pontificating university partner
  05/03/21
...
Poppy Temple Faggotry
  05/03/21
I just did this and made a killing. Also, I literally sold i...
naked sepia dingle berry heaven
  05/03/21
Because the market can take a downturn and you can be forced...
sooty point
  05/03/21
not a forced sale, but rather a sale to jump to another more...
Poppy Temple Faggotry
  05/03/21
You will throw much more away with in realtor fees, closing ...
sooty point
  05/04/21
Lmao 100k on rent? Jfc
floppy feces
  05/04/21
...
Poppy Temple Faggotry
  05/03/21


Poast new message in this thread



Reply Favorite

Date: May 3rd, 2021 10:24 AM
Author: Poppy Temple Faggotry

ESP in California’s where houses appreciate decently every year ?

(http://www.autoadmit.com/thread.php?thread_id=4825211&forum_id=2#42391788)



Reply Favorite

Date: May 3rd, 2021 10:30 AM
Author: Poppy Temple Faggotry



(http://www.autoadmit.com/thread.php?thread_id=4825211&forum_id=2#42391825)



Reply Favorite

Date: May 3rd, 2021 10:31 AM
Author: floppy feces

Closing costs, agent fees are high

(http://www.autoadmit.com/thread.php?thread_id=4825211&forum_id=2#42391831)



Reply Favorite

Date: May 3rd, 2021 11:21 AM
Author: Poppy Temple Faggotry

Is it usually 6-8% for closing costs?

Maybe I can buy and then rent it out

(http://www.autoadmit.com/thread.php?thread_id=4825211&forum_id=2#42392101)



Reply Favorite

Date: May 3rd, 2021 4:22 PM
Author: obsidian fluffy juggernaut

agent commission is usually 5% of purchase price. not sure how other states work, but NJ also has a "real estate transfer fee" which is just a tax paid to the state for selling your home that you paid property tax on while you lived there.

(http://www.autoadmit.com/thread.php?thread_id=4825211&forum_id=2#42394338)



Reply Favorite

Date: May 3rd, 2021 11:29 AM
Author: Soul-stirring Genital Piercing Cuckold

Because unless you're in an area with significantly appreciating real estate prices (hard to predict!) you get fucked in the ass on various fronts:

- mortgages are front-loaded to pay interest not principal; they curve out to pay more principal than interest only as time goes by

- closing costs (can be very substantial especially if you're in a city that taxes transactions)

- realtor fees

- putting money into an asset you're leaving 2-3 years later--means you wasted a bunch of resources on improving something

- psychological & time headache -- prepping the house for selling; dealing with showings; negotiating with cheapskates; legal review

A good rule of thumb is only buy if you're confident you'll be in the place for at least 5 years.

(http://www.autoadmit.com/thread.php?thread_id=4825211&forum_id=2#42392166)



Reply Favorite

Date: May 3rd, 2021 12:01 PM
Author: pontificating university partner



(http://www.autoadmit.com/thread.php?thread_id=4825211&forum_id=2#42392451)



Reply Favorite

Date: May 3rd, 2021 12:00 PM
Author: Poppy Temple Faggotry



(http://www.autoadmit.com/thread.php?thread_id=4825211&forum_id=2#42392446)



Reply Favorite

Date: May 3rd, 2021 12:01 PM
Author: naked sepia dingle berry heaven

I just did this and made a killing. Also, I literally sold it to a guy named Pradeep.

(http://www.autoadmit.com/thread.php?thread_id=4825211&forum_id=2#42392454)



Reply Favorite

Date: May 3rd, 2021 12:02 PM
Author: sooty point

Because the market can take a downturn and you can be forced to take a loss of hundreds of thousands of dollars if you are forced to sell quickly. What do you think happened to people in Silicon Valley that bought in 1999 and had to sell in 2001?

(http://www.autoadmit.com/thread.php?thread_id=4825211&forum_id=2#42392460)



Reply Favorite

Date: May 3rd, 2021 4:18 PM
Author: Poppy Temple Faggotry

not a forced sale, but rather a sale to jump to another more desirable location. just don't want to throw another 100k away in rent over the next year.

(http://www.autoadmit.com/thread.php?thread_id=4825211&forum_id=2#42394317)



Reply Favorite

Date: May 4th, 2021 12:31 PM
Author: sooty point

You will throw much more away with in realtor fees, closing costs, interest on loan, money spent to prep the property for sale.

(http://www.autoadmit.com/thread.php?thread_id=4825211&forum_id=2#42398876)



Reply Favorite

Date: May 4th, 2021 12:35 PM
Author: floppy feces

Lmao 100k on rent? Jfc

(http://www.autoadmit.com/thread.php?thread_id=4825211&forum_id=2#42398920)



Reply Favorite

Date: May 3rd, 2021 4:18 PM
Author: Poppy Temple Faggotry



(http://www.autoadmit.com/thread.php?thread_id=4825211&forum_id=2#42394314)