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Real Estate
Reply to "Overpaying on a house - how are you justifying it?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We move every 3-4 years, overpaying isn't a huge deal since we won't be living in any specific house for very long. It's almost like high rent but no one complains about our cat.[/quote] don't you end up losing money with all the closing costs? I mean more recently - I'm sure you could make money in 3-4 years but that wasn't always the case[/quote] houses in good areas go up a minimum of 2-3% a year normally, so you should never lose money if selling in 3-4 years[/quote] This is so misleading. Any significant maintenance costs - roof or HVAC or basement flooding or whatever - can easily result in someone losing money. And the closing costs are incredibly high. I didn't realize until we closed that the recordation and title transfer taxes alone were 5 figures. Sellers also have to deal with the agent fees (unclear how the NAR settlement will sort that out, but they're still high).[/quote]
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