This is a very interesting post, as well as a lot of great comments…

If you can wait at least five years to move, you’re in a better position to be ahead of the game.
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Chris, I completely agree with you.

Buy a house you want to live in and can afford, everyone has a different take on that because different people have different income levels and the amount they can put down.

I am no pariah, but I do believe these tidbits of advice have helped me tremendously in life.
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A little bit of math works here.

All of these rules will only work when the housing market isn’t dropping and interest rates aren’t skyrocketing. If the housing market drops, you have to be prepared to spend even more years in your home to build wealth.

When you came to the earth you came with nothing, when you leave you will leave with nothing.
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The only crying I hear is you. Did someone beat you at halo from their basement?
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Why buy a house if you keep moving? It’s just a place to live.

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In the internet age, the house sale fee is too high.

My entire family got involved when I , since I have the luck of being related to real estate agents, investors, and other experts that are more than happy to give advice about buying a property — even before I ask.

It depends on how much you earn and how long.

The first thing they asked me was exactly how long I expected to stay in the house. Though I didn’t know the exact amount of time, they wanted to make sure that I’d own the house for at least five years.

Jim very well said, I agree with you …

It definitely varies by geographic area — if not by specific neighborhood — but a lot of folks near me will buy a townhouse or condo as their starter home. After about three years, they’ll start looking for a bigger place to upgrade to, either a bigger townhouse or a single family home. This upgrade cycle will repeat itself a few times, as people work their way up to a house that they are happy with and that is big enough for their family.

If you can’t survive on $250k/yr, you have some “serious” issues.

The thought seems to be that if you’re making a little more money every year, you’ll be in a position to afford a bigger house in three years time. And everyone assumes that — as long as you’re paying down the principal on your mortgage, you’re going to come out ahead.

Do you realize that there was virtually no taxes just 120years ago?

When you purchase a house, the general rule is that you want to be sure you’ll be in the same location for at least five years. Otherwise, you’re probably going to take a hit financially.