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Real Estate
Reply to "Looking to buy SFH in Fairfax. Is it a good investment"
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[quote=Anonymous]If your window is 2-5 years do not treat a house as an investment, just rent close to work in a decent school district. If we are assuming the same 3,000 payment above, a 30 year loan with 20% down and fairfax property tax of 0.0185. A mortgage of 3000/month would be a 615,000 house, not a big budget in the nicer parts of Fairfax County and that is assuming you have the 123,000 for the 20% down payment. You live there 2 years, only build 17k in equity, it will cost you 37k in realtor fees to sell, assuming nothing breaks while you are in it and you don't have to update it or pay another rent/mortgage whole you relocate if the house is not selling quickly. At 5 years you build 47k in equity, but it is still 37k to sell it. The market has been hotter recently closer in, but no guarantee that there will be any huge gains in the next 2-5 that would outpace the equities market. The chance of having to sell in two years would be too risky for me.[/quote]
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