No. of Recommendations: 5
I dont have a family i might have mistakenly said that i meant i do want a family in 2-3 years.

Okay, even if I rewrite the phrase

I know it is not a long term strategy as i have a family of my own but i think it might work in the short term?

as

I know it is not long term strategy as I want a family of my own in 2 - 3 years, but I think it might work in the short term?

I will give you the same advice. In most real estate markets the frictional costs of buying/selling, along with the additional costs of ownership, such as maintenance, repairs, taxes, insurance, etc. will end up losing you money compared to rent if you only own a home for 2 - 3 years.

You really need to look at the rent vs. buy calculators for your area and see if your area is one of the few markets where owning a home for a 2 - 3 year timeframe would be financially advantageous to you. Unless you are in an area that exhibits characteristics of a bubble market, and you manage to time the purchase/sale correctly, it probably won't.

I would still suggest that renting a larger place with a roommate might be a better way for you to actually save money, until you can commit to purchasing a home for the long term.

AJ
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