I am entertaining an idea of buying a 2 BR condo (500K-550K) in bay area. I expect to leave bay area after 4 years or so.
I am OK even if I do not make any profit from this transaction but at least recover the rent that I would have to pay (80K+ for 4 years) if I don't own a home.
I understand that there will be closing costs involved which would reduce my $$ when I sale the property. But still I would like to know how sound/unsound this idea is given current housing situation. I also appreciate if you can help me out with example numbers so that I know I am on a right track of thinking.
I am OK even if I do not make any profit from this transaction but at least recover the rent that I would have to pay (80K+ for 4 years) if I don't own a home.
I understand that there will be closing costs involved which would reduce my $$ when I sale the property. But still I would like to know how sound/unsound this idea is given current housing situation. I also appreciate if you can help me out with example numbers so that I know I am on a right track of thinking.
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