How long should I plan to own a home before moving? If I get promoted I will likely move- and I am expecting this to happen anywhere between the next

Asked by Mespivey, 27540 Thu Jun 19, 2014

1-5 years.

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4
Bob Wheeler, Agent, bloominton, NC
Sat Jun 21, 2014
Traditionally it has been estimated that you should own a home for about 2 years before selling to avoid "losing money." However, it all depends on market conditions. If home prices go up quickly, that number goes down (like over the past year where in many areas home values have gone up close to 10%). Of course, as others said, it also helps to buy in a hot area to make resale easier.

Also, don't count out the possibility of renting your home out when you move. Rental property can be a great investment. The local investors I work with are consistently seeing double digit return on equity. With a short-term purchase such as what you are looking for, it would be my recommendation to buy a house that would perform well as a rental property. Let me know if you are interested in this possibility or just want some more info on real estate investments (or just Raleigh real estate in genera).
0 votes
Ernie Behrle, Agent, Raleigh, NC
Sat Jun 21, 2014
Two very good answers below. Having been in your position when I used to work for IBM, I always had the same concern. You need to find an agent who can place you in an area that you should have no problems with future resale...although I can tell you, no one can predict the future so what may be hot today could be slower 5 years from now. I have lived in the Raleigh area for 21 years now and based upon your price range, would work hard to place you correctly. Please take a moment to check out my personal website below and in particular, my testimonials page where you can read reviews by more recent clients. There is also an excellent home search tool on the main page.

Please contact me if I can be of any personal service to you/

Best wishes, Ernie
0 votes
Tricia Homan, Agent, Wake Forest, NC
Thu Jun 19, 2014
Fortunately, the market here in Raleigh is continuing to trend upward. I agree with Becky in that you need to find an agent that is familiar with the area comps and who can point you to the "hot" areas in case your relocation takes place sooner rather than later. Some locations around Raleigh are always in high demand, others take a little longer to sell. I don't think there is an exact answer to your question, but I do think as long as you get a desireable home at a good price, you should have no trouble with resale in the near future. And a financial planner would probably tell you its better to buy than to rent! Best of luck to you!
0 votes
Becky Johnson, Agent, Canton, MI
Thu Jun 19, 2014
The longer the better and more equity but make sure u have a GREAT agent that shows u the comps (good and bad). And make them aware of your situation so u can work as a team to sell in the 1-5 years. I deal with relocation here in Michigan and tell them also NOT to do huge improvement on the home (unless the market will bear the cost back 2 u). Location is always the key and of course a RE/MAX agent.. Good Luck and Happy happy Happy Buying.
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