Buying a house only to sell it is a waste of money.

Buying a house with the intention of living in it for the rest of your life is a good investment. Buying a house for 5-15 years with the intention of selling it is a waste of money. The inflation between what you buy the house for and what you sell it for **WILL NOT** be enough to cover the interest you pay on the loan or the property taxes you pay.<br><br>Everyone knows the argument between buying a house and renting a house. One of the biggest arguments for buying a house is that you are paying yourself instead of paying a landlord the money every month, but that is a bit of a misconception. You have a huge interest payment every month that is going straight into the banks pocket. Even if you make extra payments, it will take years to pay off enough of the loan to where the interest is not so high. After 8 years of living in my house, only about $150 of my $800 mortgage payment is actually going into the principal of the loan, the other $650 is the interest and property taxes. So essentially that is $650 wasted every month.<br><br>Furthermore, you will spend a couple years worth of payments in the lawyers and agents it takes to buy and sell the house.<br><br>So you essentially need to own a house for 20+ years in order to have it be "worth it".<br><br>TL;DR: Buying a house only to sell it in 5-15 years is not smart and is a waste of your money.