Saturday, September 6, 2008

Why Journalists Never Get Wealthy Moving

The Wall Street Journal - If you're a true cheapskate, stay put.

Moving is expensive and wasteful. You spend thousands fixing up the home you sell, and then thousands more fixing up the home you buy. You throw out perfectly good packaged food in your old home, and then go out and buy that same food in your new home. You throw out drapes, and buy new drapes. You register vehicles in one state, and then register them again in another state. The list goes on and on and on.

I speak from experience. My wife and I have bought and sold four houses in the last 17 years, and we're now buying a fifth one in northern New Jersey. Each time the sale was prompted by a new assignment for The Wall Street Journal.

Career-wise, it has been worth it. But strictly in real-estate-investment terms, we usually would have come out ahead financially by staying put instead of moving to another city.

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