2006-08-29 09:56:44 · 10 answers · asked by gcf 2 in Business & Finance ➔ Renting & Real Estate
Another get rich quick idea? A home should always be look upon as a good accumulation of equity, and a wonderful nest egg for rainy days. Never look at it as an investment, especially as a speculative means to make a quick buck. Be thankful your home has appreciated. Hang on to it for dear life.
2006-08-29 10:04:36 · answer #1 · answered by Anonymous · 0⤊ 0⤋
No. If you sell your house and don't roll over any proceeds into another house immediately you will have to pay taxes, and then when you buy your house back (assuming the new owners will want to sell) there will be expenses associated with the purchase above and beyond the purchase price and despite all relative market indicators to the contrary, there is no guarantee that your house is going to substantially lose value in the coming short term.
Are you a person of average income who owns their own home and has a mortgage and no other real estate in their personal portfolio? If so it is not a good idea to try to treat your home as a liquid asset. Fraught with way to many variables that can come back to bite you...
2006-08-29 10:04:58 · answer #2 · answered by schulteraffe 2 · 0⤊ 0⤋
That's not going to happen. When people talk about the real estate prices droping that's a sweeping generalization. Home values will have a slower or stagnant appreciation, but if the house values in your neighborhood are dropping sell now and go to a different area. You may wait a long time for the next buyer of your home to go into forclusure.
2006-08-29 10:01:28 · answer #3 · answered by stevemorbitzer 2 · 0⤊ 0⤋
No. The fees involved will wipe out any potential profit from the drop in price. If you want to sell, do so and take your profit now. Buy something smaller and/or less expensive. Invest the profit in other areas to diversify.
2006-08-29 10:02:24 · answer #4 · answered by troythom 4 · 0⤊ 0⤋
If you sell and the new owner does a lot of work on it,you would pay more to get it back than ya sold it for. that wouldn't make much sense.
2006-08-29 10:06:43 · answer #5 · answered by hungerforknowledge 3 · 0⤊ 0⤋
No. That is stupid. The person that buys it from you is not going to sell after the market lowers.
2006-08-29 10:04:56 · answer #6 · answered by Anonymous · 0⤊ 0⤋
no. because if the price of houses goes down the interest rate will go up and you will wind up paying alot more interest for the same house.
2006-09-01 09:04:02 · answer #7 · answered by Mr.Morgan 4 · 0⤊ 0⤋
What if the buyer doesn't want to sell it back to you? I don't understand your plan.
2006-08-29 09:59:18 · answer #8 · answered by Nefertiti 5 · 0⤊ 0⤋
If you know for sure that is going to happen!
But what is the guarenty?
.
2006-08-29 11:44:53 · answer #9 · answered by FreeMedicalcamps.com 2 · 0⤊ 0⤋
you're not gonna make much of a profit.
2006-08-29 10:01:50 · answer #10 · answered by ? 3 · 0⤊ 0⤋