Quote:
Originally Posted by Realtor 1
-Taking on a room mate leads to more issues than it would if you just purchased a place you could afford on your own.
- Why prepare to live in the place for 5 years. My last 2 foreclosures will see at least $30,000 in instant equity. Why wouldnt they sell in a couple years if there was a life change.
|
Your response on a room mate is just as trivial as saying you should get one. Not everyone sees a room mate as a bad thing. And if you want to cut your expenses, why not do this? It works for a lot of people.
And on the five year thing, the large majority of real estate transactions don't result in 30% equity overnight. I tend to agree with the five year thing...try to anticipate what your five year life cycle will look like and try to get into a home that will suit that (kids/family on the horizon? Empty nest on the horizon?) Doesnt mean that you buy too much or too little house...its a home that you can be a little flexible with if need be. If you can do that, then you're minimizing potential penalties and costs for having to sell early.