Firsttimer

A few things:

I won't have to sell because I can't make the mortgage/lose my job. I have a really secure job that I love. It's more a matter of, its a condo and I (and my now serious significant other) may want a bigger place in four years, five years (2011, 2012 ish). I'm never leaving the geographic area, so I'll have some flexibility about when to sell.

Is there any data out there on the percentages that rents tend to increase from year to year (particularly in a city suburb-- I live 15 minutes outside of Washington DC). I couldn't rent it out for exactly the mortgage now, I'd be a couple hundred shy at most. But am trying to figure out if I'd be able to rent it for closer in a few years.

My other question is... in Ben's scenario below, he's only counting the 10% down, not the equity building up through my mortgage payment, correct? I know its a small amount every month but over 4-5 years it adds up.

Thanks so much to everyone! - Wed Apr 9 2008, 14:09