This past weekend, I met with a really nice guy. He is 24 and is just starting his career. He has been reading that it is a great time to buy and wants to take advantage of the wonderful rates and low prices.
During our conversation, he told me that he expects to have a job transfer to the middle of the country in the next 2 to 3 years. He then asked me if he should buy? As Realtors, we are in the business of getting folks into and out of housing. My first thought was a large NO!!! There is nothing to indicate that our market would allow him to get out of a house in the next couple of years without losing money. We talked a bit more about what he wants to do. His goal is to live in the home, get a couple of roommates and have them pay for the mortgage. When he does get moved, his plan is to rent the home and have it managed. In 5 to 7 years he will decide if he will keep it or sell.
Based on asking the additional questions and listening to him, it might just be the right thing for him to move forward.
When you pick and agent to work with, make sure you pick one that not only listens, but will ask that extra question.
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