Oct 21, 2023 - Real Estate

How long it takes to break even on your Tampa Bay home

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

It can take up to 10.3 years for new Tampa Bay homeowners to break even, according to Zillow data exclusively shared with Axios.

Why it matters: That's how long you 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 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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