Rent vs. Buy in Jacksonville Fl or surrounding areas.

Asked by Teddy Musselman, Chesterfield County, VA Sat Apr 7, 2012

I was just accepted for a residency position in Shands hospital in Jacksonville Fl, I will at the shortest be in the area for 3 years, and was curious if any one had any ideas if it market is to shaky to buy and try to sell in 3 years ( townhouse in the $60-$90k range) or should i rent for the time and eat the rent. I dont want to buy and be stuck with a house i cannot sell if i have to relocate for a job in a few years. I am thankful for any advice, as I only have a couple of months to move and start my job in jax. Thanks!!

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John Bennett, Agent, Orlando, FL
Sat Apr 7, 2012
Hi,

My son is chief resident (ED) at Shands Gainesville, so I have given this some thought some 3 years ago.

As we really don't know the future, it could be better or it could be worse, I would think renting is going to be your best bet. To cover the cost of closing on a new home, and the expense of selling the home when you head off to Fellowship or your first paying job, you would need about 7 to 10 years in the home for it to pay you to buy.

If I can help please let me know, I can't help you with homes in Jax area as its out of my area of knowledge but other stuff I may be of help.

John
352-978-4539
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