Is It Worth Moving into a House for Just a Year...

Updated on February 06, 2013
R.K. asks from Lewisville, TX
20 answers

Hi Moms!
So I'm debating over here, and wondering if its worth the cost to "buy" a house, If i plan on just staying there for a year.

I rent an apt now with 2 kids, and I would be moving so they would have outdoor space, and more living space. The apt was perfect for a short time, but not for another yr.

Also, if I moved into another rented space, wouldnt I have the same costs too?? getting everything rehooked (cable/wireless, etc), 1mos security, pay for moving...

* I'd also be moving to get into a better school district for my kids. The first move into the apartment was supposed to be temporary, so school was never an issue, til now.

Any information would be awesome!

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So What Happened?

Thanks Moms for all your great input!

ps - wish i was swimming in liquid cash!

Featured Answers



answers from Beaumont on

I wouldn't buy, not enough time to recoop costs. Perhaps you could rent a home in a better school district? Then you'd have the best scenerio.

6 moms found this helpful


answers from Anchorage on

No, its not worth it unless you have money to throw away. it costs thousands in closing fees and inspections to both buy and sell a home.

4 moms found this helpful

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answers from Dallas on

Why not rent a house? Best of both worlds.

7 moms found this helpful


answers from Dallas on

Do you have a down payment?

Do you really want to look at houses, negotiate a deal, pay closing cost, negotiate a move in date for one year? Only then to put it up for sale, have people tramping through your house, fix anything the inspectors find, negotiate the deal if you find a buyer with buying power and if you don't you have to eat the housing cost here while you live somewhere else?

If you buy a house for a year, you will lose money. Stay loose. Rent a house if you must.

6 moms found this helpful


answers from El Paso on

Regardless of where you are, it's almost NEVER a good idea to buy a house and then try to sell it again in a year. Between the closing costs, and everything else that goes into it, most often it's recommended not to try to sell a house before you've been paying mortgage on it for 3 years.

Now if you were to RENT a house for a year, absolutely a good idea. You have the same concept as the apartment, but the increase of space (and outdoor play space) you're looking for.

Take a glance at this site:

Obviously, you could expand your search to other suburbs if need be to find something in your price range.

6 moms found this helpful


answers from Washington DC on

I have moved into a place for one year and moved out - it's called the military and people do it all the time. However, I would NEVER buy a house unless I planned to stay at least 5 years. Heck, I won't even refi my house to a lower rate right now becuase I'm not sure we will be there another 5-7 years. So renting, absolutely. Buying, heck no.

6 moms found this helpful


answers from Dallas on

Rent a house for a year. There are larger expenses to buying you didn't mention; I have to assume you're not grasping the entire picture.

6 moms found this helpful


answers from Kansas City on

absolutely not.

one more year, anywhere - IS temporary.

one year is nothing.

there is NO way i'd move twice within 13 months if i could help it. waste of money and energy and time. your kids will be fine for another year. (in fact i'd say they'll probably be better off with the familiarity of staying put - moving stresses kids out, why put them through that if you don't absolutely have to?)

have some patience, get your ducks in a row, and do it right, so you DON'T have to keep moving.

we could all benefit from a little delayed gratification.

5 moms found this helpful


answers from Pittsburgh on

Probably not.
Renting is probably your best bet for a year.


5 moms found this helpful


answers from Chicago on

They say you need to live in a house for 5-7 years to recover costs.

5 moms found this helpful


answers from Dallas on

I agree with all the others, do not buy a house if you are only going to be in it for a year (unless you plan on using it as a rental but that's a whole different story). Closing costs are thousands of dollars both ways. And unless you are in a market where houses are selling fast, that is taking a huge gamble on how long you would be trying to sell. Do you have enough money for a minimum of 5% downpayment plus a few extra thousand in closing costs? Keep in mind when you resale, a realtor's fees will be about 5-6% of your selling price so if you sell your house for 150,000 then you have to pay the realtor $7500, unless you put down a sizeable downpayment you won't have that kind of equity in your house. You would come to the closing table owing money...never a good place to be in.

So, unless you are swimming in liquid cash or just a glutton for punishment, renting is your very best option.

4 moms found this helpful


answers from Seattle on

If you don't keep a house for 2 years... You pay through the nose, tap a vein, AND have to give up your first born male child ... With killer cap gains & other taxes.

Now... Keeping a house for 2 years?

That's what millions of military folk (including my parents, and then myself) did and do.

As long as the market isn't bubbling (market bubbles once every 10 years). Rent during bubbles. Buy during the rest of the decade.

4 moms found this helpful


answers from Los Angeles on

Don't know what it's like in TX, but here in CA you have to own your home 2 years before selling it or you pay massive capital gains taxes. Not only that, unless you are paying cash for your house upfront with no mortgage, you are mostly paying interest on the loan during the first years PLUS closing and loan costs, etc. that can be thousands of dollars. That's why most experts recommend staying in a house at least 4 or 5 years before selling again. If I were you, I would rent a house for a year until you know what your future holds.

4 moms found this helpful


answers from Atlanta on

If you're asking if you should buy a house for one year of living, you're not thinking this through. If you buy a house, in addition to the hook-up fees, you have to pay property taxes, maintenance if something breaks, pest control, you have to put the minimum payment down, and then you have to sell it again. My husband and I just took a HUGE loss selling our house, but because we had to move on a time-table, we didn't have much choice. Oh, and then there are the closing costs!. I'm sure there are additional expenses that I'm forgetting at the moment. They say it takes at least 5 years to recoup all the money you lose buying a house, so buying is not worth it unless you plan to spend a minimum of 5 years owning the house. Now, this isn't true in all markets. There are some markets that are absolutely seller's markets, but in the U.S., they're currently quite uncommon.

Now, if you meant your question to ask whether it is worth moving into a rental house (vs. your current apartment) so that you have space and a school district, that is a very different question. You'll have to pay all the hook-up fees that you mention, but if you get a good contract, you should be able to avoid a lot of the addition "home owner" type fees. You'll still have to pay for movers (or at least a truck), and you'll have all the added work of packing stuff up, moving it, and unpacking it. Only you can decide if the school district and the added green space is worth the effort you'll have to exert. I think it would depend on the ages of your kids, how bad your current school district is, etc.

Good luck making your decision.

4 moms found this helpful


answers from Salinas on

You need to learn more about the whole process if you're considering buying a house knowing you need to sell in a year.

You will not even be able to recoup your loan costs within a year. Buying a home is usually for the longer haul if it's financially advantageous. The costs of moving rental to rental are nothing compared to the "costs" and possible losses involved in buying. Rent until you're sure your going to stay put for at least a few years.

3 moms found this helpful


answers from Columbia on

Do you mean to BUY a house that you only anticipate owning for a year?

Or do you mean move from the place you are now into another home for just that one year's lease. Then when the year's lease is up.... you would move again?

I guess it depends on why you will only be there for year?

Do you have kids? Will moving mean they transfer schools?

Moving is expensive. Hook up fees, transfer fees, movers, time and energy. I have moved all over and sometimes for short durations. I'm old now (lol) and I would not move if I could help it..... it just wears you out.

3 moms found this helpful


answers from Miami on

BUY a house? Are you planning on renting it out after you move out? Do you really want to be a landlord?

You will lose money if you buy a house and try to sell it in a year. Even owning for several years isn't enough to get out whole when you consider having to pay sales commission, paying to refresh the house, fix anything that is an issue, etc. You have to pay private mortgage insurance (PMI) if you can't put down 20%, you have to pay property taxes, and insurance on your house. With renting, you only have to pay for renter's insurance, and property taxes on your car. If you want a better school district, rent.

If you were saying that you would stay there indefinitely, my answer would be different. I have no idea why you are saying you would only want to have the house for one year, but I do know you will lose a lot of money by doing that.

If you don't want to pay for the costs to rent another apartment short term, then don't move. I promise you that if you think THIS is expensive, you have no idea just what you'll spend dealing with buying and selling a house in one year's time.


3 moms found this helpful


answers from Chicago on

What is your current living situation? Are you looking to buy or rent?

If you are looking to buy, what are you planning on doing with the home after the 1 year? Sell it? Rent it out?

If you can give us some more details on your situation you might get some more helpful advice.

2 moms found this helpful


answers from Washington DC on


If your kids are currently going to school and will be attending while you live in the next space - then yes - it's worth it.

Most service providers will not charge you if you are moving within their same service area. You can talk with them to see what their policy is.

I am curious as to why you would only be there for one year - are you active duty military?

If you are only going to be there for one year would I buy? Maybe. Depended upon the market and what I was buying - is the location "hot"? Even for a year? Great school districts are always where someone wants to that has things going for it. There is a lot to consider...would you be able to sell for a profit or break even? Much to consider! Would I keep it to rent out?

So I wouldn't be able to answer that - purchase for one year - unless I had more information. For one year - no - I wouldn't purchase. For one year and rent out. Yes.

Good luck!

1 mom found this helpful


answers from Oklahoma City on

I do have to say that I have numerous friends that moved with a job that was supposed to be for a year or two then they were going to be moving to another position. Most of them have been where they moved to for at least 10 years.

If you were going to take classes and be done with the program in a year, I would move to a better place if it didn't cost more. I would move so the kids could have the school. BUT if they are happy where they are then I wouldn't no matter what the schools are like, it's only a year and most of the year coming up is summer and spring break.

1 mom found this helpful
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