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[–] hey_girls_pm_me_toes 0 points 1 point (+1|-0) ago 

no. You can make a profit by selling your house

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[–] obvious_throwaway1 0 points 5 points (+5|-0) ago  (edited ago)

Generally speaking, in the typical case you need to spend money to renovate/modernize/maintain the house, and the traditional 30-year mortgage is mostly principle until the 10th year. Since the average home owner sells their house within 7 years of ownership, this means it's a minority that actually does end up making money selling their house.

Cost + appreciation - renovations/repairs/maintenance - sale price = net loss for most people.

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[–] ScottRockview ago 

Don't forget property taxes and insurance. I can think of no other "asset" that doesn't generate an income where you pay tax on it each year and have to insure against its loss.

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[–] hey_girls_pm_me_toes 2 points -2 points (+0|-2) ago 

Even with all that work you are adding value to your home. I never heard of anyone losing money when they sold their house unless they were idiots who bought in a bad area or got screwed on their rates

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[–] 10124448? ago 

if you're lucky. unless you put in serious sweat equity you might not even break even after considering inflation and transaction costs, especially if you move after less than 10 years or so

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[–] hey_girls_pm_me_toes ago 

I made a big chunk of money on my first house and only lived in it for a few years.

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[–] Sosacms ago 

If you pay in cash.