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Old 09-06-2016, 07:55 PM
 
170 posts, read 188,699 times
Reputation: 132

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I have to stay 1 year because of contract Job. I am currently renting paying $500 for a room in SW but would like to know if it would be better to buy a House keep it for a year and then put it on sale at the end of my contract. I got 200K in the bank .

T
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Old 09-07-2016, 04:44 AM
 
Location: Riverside Ca
22,146 posts, read 33,524,353 times
Reputation: 35437
Rent. Your house needs to appreciate at least 6% in order to break even. That's not counting some big repair that's unforeseen. For that short a period I would just rent a apartment, studio or guest house/M.I.L. quarters.
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Old 09-09-2016, 04:12 PM
 
Location: Thousand Oaks, California
10,408 posts, read 2,597,080 times
Reputation: 1493
I agree.. You could end up losing money if you buy for such a short period. I guess you could rent it out afterwards, but that has its own issues.
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