If your time frame is three years or less, or really five years or less, I would strongly consider renting vs buying. I see no data that tells me prices will increase significantly in the next 5 years but I see plenty of data that tells me prices could stay flat, or even decline further in the next 5 years.
If you know you are going to be here at least 2 years I would recommend trying to lock in a 2 year lease at a fixed rental rate. Rental prices in my area have risen 5 to 15% in the last year and inventory is lower than at this time last year. Chances are strong that they will continue to rise over the next year or so.
Key Locations Property Management LLC
One thing to consider is if the home has potential to increase in value and/or its potential as a lease property. If either or both seem to be good options, then buying may be a great choice!!
Hope this helps and good luck!!
You came to the right place . I see a house for $90,000 that you won't be able to resist. The owner is desperate and he will even do owner financing. You will love the house it was just how you imagined it.
Your neighbor who is renting sorry to tell you she got the short end of the stick ... You know her landlord ... well he did not pay for his mortgage for two years now they finally foreclosed on him. To think that he was collecting rent while he was in the Bahamas? Well you friend needs to move and soon like tomorrow. Just in case she needs a good mover ask Mr Obama he has a long list of movers.
He has one too called MOVE FORWARD by two Brother's and a truck. I think you should buy I think moving sucks.
Lock up a two year lease as he said - good advice.
You'll have to weigh the costs between renting and buying. Some areas, it's just so much cheaper to buy that it's worth taking the savings each month to bet on the transaction costs.
And, if you're looking to sell, you can always sell if you price your home right for the market.
That said, I just helped one of my clients sell a home quickly due to unexpected job relocation. They had only bought the home with me 7 month earlier. Fortunately, the area we bought was so hot that they're able to walk away with a 10% net gain after all selling expenses.