Real estate agent and real estate lawyer Bruce Ailion agrees. When you're looking for a new place to live, the first question you ask will help you make decisions. Should you rent or buy? Buying may seem attractive because it will put an end to the escalation in rents and can generate capital. However, the reality of routine home maintenance and repairs can quickly drain a bank account.
If you want to raise capital in your home without making any major updates, you'll probably want to live in it for 5 to 7 years. But where does that number come from? For a long time, many of us have believed that this is the common answer to how long we should live in a house before selling it.