Short Term Purchase in a College Town

[Terri Stoddard]

I am considering a job relocation to a small college town in the Northeastern US. Since I am not likely to live there more than 3 - 4 years, I decided to rent instead of buy..especially since property taxes are high in this part of the country (even though I know all costs factor into rent).

I noticed an unusual pattern. Rental properties in this town are overpriced and not much to choose from while home prices are underpriced and plenty of homes on the market.

So now I am back to looking at owning, even if for the short term, although transaction costs could push this into an expensive proposition.

What percentage factor do you use as a average for transactions costs on both ends of buying and selling a home.

Also, if you have any other advice in this situation, my mind is open. Thanks