Home Theater Forum - View Single Post - Is now the time to buy a home or wait it out?

Carl Johnson · 04-28-2008, 06:54 PM

When the housing market was on fire the rule of thumb was to buy a house only if you were planning on living in it for five years, because that's about how long it would take to break even when taking into account the cost involved with buying a new home.
What do you base your 5-7 year timeline on? If you have kids in elementary school and don't want to move until the youngest one graduates high school in 2015 then buying a house might be the thing to do. If within the past year you graduated college and started your first real job then buying a house would not be the thing to do.

04-28-2008, 06:54 PM	#9 of 70
Carl Johnson *Carl III* Member Location: Indianapolis, IN Join Date: May 1999 Local Time: 12:08 AM Local Date: 10-13-2008 Posts: 3,404	Re: Is now the time to buy a home or wait it out? When the housing market was on fire the rule of thumb was to buy a house only if you were planning on living in it for five years, because that's about how long it would take to break even when taking into account the cost involved with buying a new home. What do you base your 5-7 year timeline on? If you have kids in elementary school and don't want to move until the youngest one graduates high school in 2015 then buying a house might be the thing to do. If within the past year you graduated college and started your first real job then buying a house would not be the thing to do.