Novocastrian

He's from Brazil, currently in the UK. He may know this.

jandro

Maybe, but he seems to have a little more at stake here this time.

Shard

It does seem a little odd to go to the trouble of obtaining a mortgage, buying a house, and then deciding it's a bit old and small and time to move on, for the sake of it.

bats

Maybe it's the implied permanence of house buying that's given him itchy feet?

Shard

Buyer's remorse.

MarkG

Yeah, but a house in the UK is probably worth $100,000 more than it was a week ago .

Souvy

What is permanent about buying a house? You can always sell them again.

I'm on number 3 and trying to buy number 4. Heaven knows how many places dbd has gone through.

Shard

Transaction costs are a consideration.

Souvy

So you build them into your calculation and price negotiation. That is not an issue.

dbd33

<runs out of fingers>

You need deep pockets to keep selling houses at a loss and moving on, that's where the permanence comes in. That and getting over the difficulty of realising that you likely will make a loss each time.

Shard

It's an issue if house prices are flat. Stamp duty varies between 1-5% in Britain; real estate fees are high in Canada. Not saying that houses have to be treated as a long term purchase, just pointing out that their are reasons that dissuade people from buying and selling at the drop of a hat.

dbd33

There's also the possibility of the value of the house falling. That's probably not a worry over twenty years but it certainly is over five.

colchar

Cambridge Ontario. There are so many there (down in the Galt area where I used to live) that they have many Portuguese relevant street names (ie. streets named after Portuguese explorers, etc.).

Souvy

I've never made a loss. The key is to buy something unusual. Top end of the scale or bottom end. Losses are made when you buy something in the middle - cookie cutter - and then spend too much on doing it up.

bats

Oh heck yes I am on number 7 but somehow a mortgage feels more permanent and binding than a rental. The same with marriage and cohabiting. Or buying a washing machine rather than using the laundrette.