Anita,

There are so many variable factors, but there is one that could be overlooked....that is "price range".

Before making a decision to purchase, we would recommend you study the market in detail for your community. There are price ranges that may never offer you a return on your investment. The market time to re-sell homes in Greater Cleveland that list above $500,000 can be lengthy. You may find our blog from July 2009 of interest:

http://www.yourclevelandrealtors.com/2009/07/29/improving-ma…

Hope this is helpful to you.

Many Blessings,

Jim

I agree with a former answer, there is no average. The factors that are most important are location, condition and whether or not there is a allot of new construction in your area that are sold or not sold.

As a general rule, if your new construction is in a development, when the development is completely sold out, then you have your best opportunity to recoup your investment. When you are still competing with new homes or buildable lots, you will be competing with the consumer who wants brand new as you did, thus your price will be effected by the price the brand new houses and lots are selling for and the desire for buyers to buy brand new rather than existing housing, when they have the opportunity to do that.

Hi Anita,
Well, It's not easy to answer this question given the current Real Estate Market. In years past, you could expect a property to appreciate in five years. At this point in time, it might take at least five just to stabilize the housing market.

There is no "average."

That's especially true with new home construction. The reason is that as long as the developers are still in the community, there's no way that you (with a used home) will be able to compete against a sparkling new home and the financing and other deals a builder is offering.

That's also particularly true in today's market.

Let's just say that if you think you might have to sell within 5 years, don't buy. That's not an average. But if you think you might have to resell it in 2 or 3 years, absolutely don't do it. The transaction costs alone will eat you alive.