Home Buying in Park Slope>Question Details

Josh, Home Buyer in 10009

Is it worth buying an apartment knowing that my wife and I will probably move within 7 years?

Asked by Josh, 10009 Wed Dec 26, 2007

We're looking at places around $700k with about 40% down.

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Answers

3
Unless you can tell the future, it's hard to say. The attached link is to a very comprehensive calculator that can help you consider all the variables. I've found it useful.
0 votes Thank Flag Link Sun Jan 13, 2008
A seven year moves gives you plenty of time to see a great return on your purchase- especially if you want Brooklyn :) Long term appreciation is high in these parts. As Gail mentioned, 5-7 years is the average for most so you will be right on track when you are ready to upgrade.

Shay
Corcoran Real Estate
65 Lafayette Avenue
Brooklyn, NY
718.210.4032
Web Reference: http://www.corcoran.com
0 votes Thank Flag Link Wed Dec 26, 2007
National statistics show that all 1st time buyers move within 5-7 years. What are your needs now? Don't worry about tomorrow...fill your needs for today and the next 5-7 years.
Web Reference: http://gailgladstone.com
0 votes Thank Flag Link Wed Dec 26, 2007
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