Sell now Buy Later

For Some people buying a house in this climate is not an option. Some home owners might want to get out of home ownership to capitalize on this hot market, rent out a place for a year and determine what the market is and then decide to get back into home ownership.

Its simple: Sell when the market is high, then buy again when the market is low.

While this is an option there are also drawbacks to this method:

Pros & Cons

Pros:
1. Downsize
2. Lower monthly costs
3. Save money
4. Make money on Sale of house
5. Wait till market is low to buy (maximize gains)

Cons:
1. Moving costs & fees
2. Possible mortgage penalty
3. not paying into your equity but paying landlords mortgage
4. Headache in moving in a year again
6. Market might not get lower but higher