House buy now and sell in 2 years pros and cons

[hyperbole]

Buying house is a good idea if you plan to live long term

1) gain equity via your monthly payments, for example if you pay 2000 as emi, you will be paying 500-700 towards the principle every month for the next 5-7 years and that keep increasing as the years pass by

2) primary reason to buy a house is to have a predictable amount you are going to spend on housing, rents keep going higher as the inflation rises but with mortgage you will have locked in your emi for long term

3) itemize your tax returns, all the interest you pay on mortgage is tax exempted i.e 1500x12 if you have approx 2000 emi, plus property tax is also exmepted

4) sense of belonging and security.

5) in the last 7-8 years prices went up 5-10% evry year, if you are lucky you will see your equity go up. Most areas like bay area, NC will keep growing because of growing employment opportunities, the more you wait the more you are going to regret(from my personal experience) 

 

[AndhraneedSCS]

Based on the purchase price, closing costs can be 7000-12000 or so on an average

to sell, 6% real estate agent fees 

 

If you know for sure you are going to leave in 2 years, I dont think it is worth. I think there is something like lease to buy. May be you have to try something like that in your area (if available)

 

[vatsayana]

18 minutes ago, idibezwada said:

2yrslo amme lekka aite forget abt it...naku same plan 3 yrs hold chedam ani undedi...after all the calcs and instability lite teskunna...and instam unna lekapoina you obviously endup buying lot of junk

+69

[hyperbole]

3 minutes ago, AndhraneedSCS said:

Based on the purchase price, closing costs can be 7000-12000 or so on an average

to sell, 6% real estate agent fees 

 

If you know for sure you are going to leave in 2 years, I dont think it is worth. I think there is something like lease to buy. May be you have to try something like that in your area (if available)

 

You can negotiate closing costs, some times lenders, seller either help partially or fully. If it’s a new house usually builder underwrites it into the total cost.

you can even negotiate sales commission (1-1.5%) with your agent while buying a house as well, a lot people here in the bay area does that.

 

[Smallpappu]

2 years lo ammedi iathe konatam.enduku baa asalu

[nokia123]

1 hour ago, pahelwan said:

First time personal post estuna. America vachi 12 years aindi rented home la untuna. House konalani many days ankunna but couldn’t do it with single pay. Now with some savings I think I can afford a single family home. Na american dream kuda complete ainattu untadi. Ippudu koni 2 years la ammeste pros and cons em untai. Jara house owners vachi mi amulyamina soochanalu cheppandi. Evarina koni amminolu unnara houses with in less than 2 years. Ma friends ni adgite house ante min 5 years commitment undali antunaru. 

there you go...

[pahelwan]

thanks folks for your valuable suggestions.

[pahelwan]

12 hours ago, Smallpappu said:

2 years lo ammedi iathe konatam.enduku baa asalu

idi okate theerani korika in this country. idi kuda cheseste inka india poi anni chusinam chesinam america la ani thrupti.

[pahelwan]

12 hours ago, hyperbole said:

You can negotiate closing costs, some times lenders, seller either help partially or fully. If it’s a new house usually builder underwrites it into the total cost.

you can even negotiate sales commission (1-1.5%) with your agent while buying a house as well, a lot people here in the bay area does that.

 

builder giving 5000 credit. commission is 2% already discussed with agent. sign cheyala vadda ani tarjana barjana. house is in very good location and schools are great. i know that i have to pay more emi but earn chesi paisal ekkado daniki spend cheyakunte artam em undi. 

[Aakupaccha_caradu]

[user789]

2 hours ago, pahelwan said:

sell chesi india jump is my plan. i will not buy the junk in first place to fill the home. 

stupid plan....next 2 yrs no appreciation here...do investment in india -its growing like anything...plan to invest in 2 property and sell one of them to gain profits in 2 yrs or sell both....if u r dream is to just buy house here and you don't care if it will be profitable venture then go ahead..

[Smallpappu]

2 minutes ago, user789 said:

stupid plan....next 2 yrs no appreciation here...do investment in india -its growing like anything...plan to invest in 2 property and sell one of them to gain profits in 2 yrs or sell both....if u r dream is to just buy house here and you don't care if it will be profitable venture then go ahead..

+1

[hyperbole]

27 minutes ago, pahelwan said:

builder giving 5000 credit. commission is 2% already discussed with agent. sign cheyala vadda ani tarjana barjana. house is in very good location and schools are great. i know that i have to pay more emi but earn chesi paisal ekkado daniki spend cheyakunte artam em undi. 

Go for it man, why only 2 years any strong reason?

[AlaElaAlaEla]

2 hours ago, pahelwan said:

First time personal post estuna. America vachi 12 years aindi rented home la untuna. House konalani many days ankunna but couldn’t do it with single pay. Now with some savings I think I can afford a single family home. Na american dream kuda complete ainattu untadi. Ippudu koni 2 years la ammeste pros and cons em untai. Jara house owners vachi mi amulyamina soochanalu cheppandi. Evarina koni amminolu unnara houses with in less than 2 years. Ma friends ni adgite house ante min 5 years commitment undali antunaru. 

USA lo closing costs are too much man. konni states lo house value appreciate avvatam kastam. 

why to sell in 2 years ? but 2 years nee own house dream fulfill aithadi anukunte, 50k loss ayina ready ga undu ammetappudu.

Always rental option undi kada. Not sure how much is your budget and which place you are planning to invest.

[The_One_Above_All]

aa chesededho stocks lo petti 2 years ki ammu , db brothers laga 30% losses avutayi , full happies