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Rent vs Buy in 20018 : Real Estate Advice

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Activity 1
Mon Nov 10, 2008
Richard Helbig answered:
Dear Marivic,

This isn't an easy decision to make, so let's take it in parts:

-- selling is harder now, and you're right about taking any profit out of your unit after commissions today
-- however, the market is getting better every day, with much 'movement' expected with a new administration coming to town
-- owning your McLean unit for a few more years should serve you well
-- as a rental your place is very attractive, size and location wise
-- renting it furnished helps you as wel: (i) you don't have any place to take your furniture, so will save storage costs ($400/month?) and (ii) renting 'furnished' adds nicely to a rental rate say $500/month or more to a $2,500/month unfurnished number)
-- renting quite short term, say 'furnished' in 6-month increments could add even more to a per month rate

You may have other considerations, or course, but it sounds to me like renting, (furnished at that), may be your best option. Let me know if I can help, 301-801-2970. Cheers

--RICHARD--
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