For families, owning a house is one of the main goal. It is where the family share stories and eat their meals together. But what if the house they built is way to expensive for them to afford. This is where the five year rule comes in.
The five year rule in owning a house means that if you are not going to libe in that place for five years or more then do not buy it. There are reports stating that more and more homeowners are selling their house because they cannot afford the bills that comes with it such as real property taxes. But it is not also easy to sell a house in just a small amount of time.
With the financial crisis and the low value of a house, homeowners are forced to have their property rented. Some homeowners will wait for the value of their home to go up so they try and maintain the house in that waiting period.
Owning a house is a big investment and if you are not ready to settle in one place then don’t. It will cost less when you rent a home especially when you are only living alone. So owning a house must be thought of carefully because you do not want to end up selling your dream home.
Though there are real estate companies that are looking for families that are willing to live in the house that they are selling for free. In return, the family must keep the place clean so that it will be ready for viewing anytime an interested buyer wants to see it. This may be a solution for families who want to cut their expenses and live in a luxurious home at the same time.