Moving around too much isn’t good for your finances or your well-being.  Here are a few reasons you should stay in one place.

  1. Moving expenses add up.  The cost of moving is nothing to sneeze at, especially if you are moving a long ways away.  Some of the costs of moving are deductible if you are relocating for a new job, but still, you have to pay for it up front — and it’s not cheap to move!
  2. You have to do a whole new real estate search.  Whether you are renting or buying, it takes time to find a place to live.  But especially if you are buying, you could spend many hours looking at properties, waiting for closing day, etc.  If time is money, you are wasting it like crazy when you move around a lot!
  3. You don’t have time to build equity in property you own.  Chicago Illinois real estate, Jacksonville real estate, and property in other areas increases in value slowly — often taking many years to increase significantly.  If you own your home but you don’t live in it for very long, chances are you won’t make anything when you sell it, unless of course you do a fix and flip.  In fact, with today’s real estate market you may be lucky just to be able to sell your house for what you owe on it!
  4. You may be taxed on any profit you do make when you sell your house.  If you bought your house less than two years ago, any profit you make when you sell it is considered income, even if you lived in the house yourself.

It’s just not worth it to move around a whole lot.  Stay put and save money — that’s the best way to do it!

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