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Any advice for someone looking to purchase and only keep for 5 or 6 years? We want to take advantage of the low rates and prices. I'll be putting down a decent amount but not 20%. Any advice for type of loan or any other advice in general.
We found a house that is about the same as rent we paying now with all taxes fees etc included.
The fact that current total housing cost is close to what rents are in the area is either a pretty good indication that this is a bargain OR a perhaps an area that is trending downward. If the former than good luck, the latter then KEEP looking....
The thing too is that if the house is "underpriced" because it has problems that limit the buyers that might be interested is that unless you can remedy those problems it will be hard to sell in 5 years or 10 years -- things like too small a lot, too close to busy street / undesirable properties, bizarro layout (like one full bath on first floor near front of house and bedroom upstairs at other end of house...) all mean "huge discount" will be needed to attract buyer down the road...
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