I plan on moving out of the country in the next year i need money now do i sell my house now or refinance?
DianneI want to leave the country debt free
MargeryI've been telling my clients that if you're planning on selling you house within the next 5 years, now is probably a good time. Not because of a big crash, per se, but just because the investment doesn't look to be better than other alternatives right now. I think housing prices, as a whole, will simply rise with the rate of inflation for the next several years. Of couse real estate is especially regional, there is no such thing as a national real estate market. So your place could go way up or down. But the point is that if you want to leave with no debt, I don't see a compelling reason to re-fi and hold. If you are planning on moving back soon, however, it may make sense to hold. Because the transaction cost of selling and then coming right back and buying again are prohibitive. If you have no intention of moving back, then go ahead and sell and invest in a diversified portfolio that may include real estate, stocks, bonds, etc. Of course I recommend seeing a professional you can trust to help with these decisions.For more personal finance info please go to my podcast, www.promoneytalk.com. It's the #1 rated personal finance podcast in the world.Hope this helps, Jason
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