Are you thinking of buying your first home? You may want to plan on living in it for at least three years. There are numerous costs associated with buying a piece of real estate and on average, three years is the amount of time required to break even. Think about it. You have home inspection and appraisal fees, survey fees, legal fees, moving costs, title insurance, and real estate commissions. Do not forget the general maintenance of the house while you live in it. On average, your property will need to appreciate 15% to cover all these costs. Flipping real estate may not be such a good idea unless you are willing to buy a seriously run down property and to fix it up in the hopes of making a profit.