I always advise my clients when they are searching MLS for homes, that they actually plan on staying in that home for at least 3 years, and even that is cutting it close. The fact of the matter is that we will have a recession at some point. It may not be next year but it will happen. And that’s why we advise on 5 years to be a safer bet for appreciation and being able to sell your home with enough equity to move up in the house when you buy the next one.
Buying to trade up in just a couple of years is risky unless the person plans on doing a lot of work themselves to improve the property. Without that, the target trade up house is probably increasing in value too. That’s not going to help.
So unlucky. When trading up, you wish that it is a bear market and the mortgage rate is low
What’s the exact difference between renting and buying price in Austin?