I noticed that this exercise is quite popular here down under. And as someone who came from a different culture, initially I could not understand what the fuss was about. My family and most friends I know buy houses for keeps. And by that I mean, the idea of selling is so far-fetched that even thinking about it is already deemed a grave misconduct. You are stuck with the house your family chose to settle down in. And because of "sentimental value", getting rid of it for profit just does not feel right.
But that mindset has changed. (Not that I'm wanting to sell our current 3 year old home.)
I have met many people who are keen at buying houses for investment purposes, whether local or abroad. Some have even purchased houses in the USA, which apparently were a bargain years ago when the financial crisis hit. (Opportunists much?) And why not? I'll be browsing Saratoga Woods houses for sale too (like the one below from Louisville Homes) if I had extra cash lying around. Then sell it when the time is right. Unless we decide we prefer more lush greenery and move to Kentucky.
|for sale at US$264,900|
Are you planning on buying or selling a house any time soon?