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Old 02-09-2016, 12:39 PM
 
Location: My House
34,938 posts, read 36,249,994 times
Reputation: 26552

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Soo... what's the real goal?

Were you looking to sell your house, buy another just like it, and pocket a large windfall?

If so, why'd you expect this?

If you're looking to sell and buy a smaller home or you're looking to downsize in some way that equals not spending so much on a home as you're selling for, you will actually make money in a practical sense.

If you are looking to buy a similar home, you may just break even because prices may be up from when you purchased, but if you were coming into this market now with the idea you'd pay what you paid back when you originally bought your home, you'd be SHORT money, so this sale/repurchase idea is still in your favor.
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Old 02-09-2016, 01:31 PM
 
2,844 posts, read 2,976,558 times
Reputation: 3522
Quote:
Originally Posted by RedZin View Post
Soo... what's the real goal?

Were you looking to sell your house, buy another just like it, and pocket a large windfall?

If so, why'd you expect this?

If you're looking to sell and buy a smaller home or you're looking to downsize in some way that equals not spending so much on a home as you're selling for, you will actually make money in a practical sense.

If you are looking to buy a similar home, you may just break even because prices may be up from when you purchased, but if you were coming into this market now with the idea you'd pay what you paid back when you originally bought your home, you'd be SHORT money, so this sale/repurchase idea is still in your favor.
well i feel my home would be a little small for young adults but its good for starting my family

so i'm figured a move in 5-8 yrs but still likely local.

what do i dooooooooo

i'd probably just shift further out / more rural.....which i guess what 'movin to the burbs' is all about
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Old 02-09-2016, 01:38 PM
 
Location: NC
9,360 posts, read 14,099,574 times
Reputation: 20914
Quote:
Originally Posted by cheapdad00 View Post
Who pays this much in closing costs? Or do your totals include costs such as realtor fees/moving fees?
That 8-10% includes 5-6% real estate commissions, loan application fees, title insurance, surveys if needed, document filing fees, etc. It all adds up either on the buying end (a little) or selling end (a lot).
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