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Reply to "Borrowing from retirement accounts for down payment"
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[quote=Anonymous]You'll save A LOT of money by only moving once. Transaction costs are no joke. We were facing a similar dilemma (but only used savings): buy 2BR condo now in core DC and trade-up to SFH in 5 to 7 years once we have a kid OR just buy the house now. My rough calculations were that the transaction costs alone in buying now, selling condo, and then buying a SFH would add about $60-70K in transaction costs alone. Buying the house immediately became a no-brainer, even if it was a bit of a stretch. And that's not factoring in that SFH prices will, most likely, be higher in 5 to 7 years in desirable areas. Therefore, Option 2. You're paying yourself back, and frankly, this stock market is pretty overheated. Cash out some gains now, while your 401K account is flush.[/quote]
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