One possible option is to consider a multi family home. Perhaps it wont be your dream home, but when you are ready to upgrade to another home, you can retain your income property and rent it out. Right now alot of people are able to buy income properties and earn a positive cash flow due to the low rates.
You are also able to buy a two family home with a FHA loan, 3.5 percent down, and reside in one unit and rent the other. I find alot of buyers never consider this option. Something to consider.
The market is in general is still horrible and metrowest is no better off. Also take the advice from brokers with a huge grain of salt, remember no sales no commissions. Check out the other blogs about buying in metrowest on Trulia. Here is a summary of broker answers over the past few years on your question.
get my point.. See link for a bit of humor on this topic.
Wait it out, invest the difference from renting and you'll come out much better off
The first question you have to ask yourself is what i your overall goal for the property in the next 10 years. the ones that has been established one must decided on what mortgage product bests suites their needs. i work for a bank in the lending department so what i always do with my clients is create an analysis chard of buy vs rent so they can compare all the numbers and see where they will be in the next 10 years. If you are interested in talked i'll be glad to advise you in any way i can.
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