Homeowners would have to live in a newly purchased property for about 13-and-a-half years on average before it could be sold for profit, a study has found. After purchasing a house, a variety of additional costs are incurred thanks to broker's fees, closing costs, maintenance costs and crucially, the mortgage. For a buyer to break even on a property, it must appreciate by the equivalent value of all of these costs added together.With mortgage rates at , the amount of appreciation new buyers will need to enjoy on their home before those costs are offset is more than ever.
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