Would it be wise to buy property (house, condo, whatever) if one is considering moving to another country in two years? Presently we rent and it is not too expensive for us, particularly since we have the option of cheap campus housing (400-700 dollars per month for a walk-up or townhouse), but some people are advising us to buy a house. If we do buy it, we’d be selling it in two years. I’ve gone through the process of selling before and it was a hassle, took too much time (months), was too stressful, and was expensive (advertising, the real estate agent). However, if we are able to gain profit from it, the time commitment in selling and the hassle of it might be worth it, especially if the profit we make is greater than what we would through other investment options. We don’t have enough money for a varied investment portfolio; if we buy a house, all of our money would go into it.
The housing market is not doing great in the U.S I hear. Its always good to buy but having to sell again in two years...makes it tricky depending on the performance of the economy. If you were going to keep it for a longer period then there is no time like the present.
Don't buy it if you know you HAVE t osell it in two years time. You don't know what the market will be like in 2 years and you don't wanna be stuck with a house that you cannot get off your hands and then have to leave the country.
location, amt of downpmt, access to nearby impt places like work place, and school districts - is essential.
definitely safe and quiet neighborhood.
staying in the city is not the best unless u can get used to the apt buldings, no or hard to find street parking & congestion on streets.
high rent price is also like paying someone else's mortgage.
if you plan well, might as well get your own small house.
equity can always comes back.
avg mortgage for a house in NY in residential neighborhoods can be in the range of 2500 - 4000/ mth for a house valued at 400, 000 - 650,000.
you pay 30, 000 and you can begin owning one
stable income and no major building after buying as well as renting a portion of the house, can immensely help sustain the new purchase.
or another strategy is - live cheap now, and save money. then buy land up state or out of state, and build your own house.