would you buy a house in CA if you plan on living there for only a year

[Clocker]

what are your thoughts?

 

[Reel]

Unless the market is sickly inflating again, you won't cover your broker fees when you sell it most likely so it would be a net loss. Is that worth it to you?

 

[BoomerD]

A couple of years ago, you could have made 25-30% on your money...nowdays, I agree with reel...you may have a hard time breaking even...it DOES depend a lot on WHERE in Kahleeforneeya however. Some areas are still doing pretty well...

 

[FoBoT]

no way, i wouldn't buy a house anywhere i wasn't planning on staying at least 3 years if not 5 years

 

[DaveSimmons]

No. Between closing costs and selling costs you're better off parking the money at INGDirect instead, amd possibly investing some of it long-term at vanguard.com (not for just a year though).

 

[DainBramaged]

No.

 

[Ameesh]

i bought a house in california just to rent. why dont you live there for a year and rent it out later.

 

[MedicBob]

Nope, I would want to live there longer.

 

[d33pt]

sure if you can keep it and rent it out later

 

[bctbct]

no

 

[IHateMyJob2004]

Due to the housing market and rental prices, I would refuse to move there for any reason unless work was paying for my 100% of my rent while on a long term travel assignemnt.

 

[Slew Foot]

Considering that:

A. Prices in CA are falling between 5-25% since last year

and

B. A place that you buy for about $3000/mo rents for $1300/mo

Buying a home in CA now is waste of $$$.

 

[olds]

At this time, no way.
It's probably never a good idea when you consider moving expenses and closing costs.

 

[HomeAppraiser]

Buy one of the millions of sub-prime repos that will be comming up, dress it up and flip it in a year for a profit.

 

[imported_Mike]

Not unless you have the time/money to buy a fixer-uper. The market is on the decline in previously hot areas.

 

[AgentJean]

Why would you want to live in the Communist Republic known as Kalifornia for only a year?

There are much better places.

 

[ntdz]

No, because you'd have to pay capital gains as well.

 

[imported_Mike]

Originally posted by: AgentJean
Why would you want to live in the Communist Republic known as Kalifornia for only a year?

There are much better places.

lol, how dumb.

 

[jadinolf]

Originally posted by: AgentJean
Why would you want to live in the Communist Republic known as Kalifornia for only a year?

There are much better places.

Yeah, like anywhere else.

 

[jadinolf]

Originally posted by: ntdz
No, because you'd have to pay capital gains as well.

On a loss? I don't think so.