First house question.

Question

My husband and I have only lived here since the end of April but would like to buy a house in our hometown. We only live about 15-20 miles away from our hometown kind of in a suburb but would like to be in the city. When would be a good time to sell considering we've only had it for what 4 months? We would like to move back because we both work there and our families are there and gas is getting to expensive to drive back and forth every day like 10 times because there are no stores or anything in the suburb we live in theres only a gas station. Also I am 4.5 months pregnant and we would like to live in the city. When would be a good time to sell and how long are people usually in their first home for? I mean its not an expensive house at all and our monthly payment is really low but still everything we know and do is in our hometown and we didnt think it would be a big deal being as we are only 15 miles away but it makes a big difference. Any ideas?

Answer 1

Its a lousy market to sell in, and there will be a large expense for closing costs (plus another one for closing costs on the new house you buy) so even if you can sell the place for the same price as you bought it you will take a big loss on the whole thing.  

Still, it really doesn't matter how long you have been in the place, just sell it whenever you want but make sure its worth the money and hassle to sell this one and buy a new one as this will cost you quite a bit in closing costs and time.