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Buying house? Think long term

Several factors can affect financial future
Published on Mar 16, 2009

Now would seem like a rotten time to sell. The economy is in recession and many housing markets around the country have suffered serious downturns. However, if you're a seller who will also be a buyer in a market where prices have declined, it could be a good time to both sell your current home and buy a new one. You sell for less than you would have in 2004, but you also pay less than you would have then. To be successful selling in this market, your home needs to be in good condition. Most buyers are bidding on a home they can move into without having to do a lot of work. Also, your home must be priced for the market. If you've been transferred and need to relocate, there are a couple of options. One is to sell your current home and buy in the new location. Some employers offer relocation assistance that covers many of the selling and moving expenses. Another option is to rent your current home to a tenant and rent another one in the new location. There are benefits to rent...

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