Data: Zillow; Note: Calculations assume typical increases in home values, 3% closing costs paid at purchase and 1% home maintenance fees, 6% closing costs, and 6% agent fees paid at sale; Chart: Erin Davis/Axios Visuals
Get comfy, new Austin homeowners. It could take up to 16 years tobreak even on your purchase, per Zillow data exclusively shared with Axios.
Why it matters: That's how long you'd have to stay in your house before you can sell and make a profit.
Context: Historically, experts have said you need to stay in your home for at least five years to break even. But with mortgage rates inching toward 8%, new homeowners will need to stay put longer to avoid going underwater.
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