Asked by Infoseeker, Murrieta, CA • Fri Feb 19, 2010
There's a possibility my wife and I (along with our baby) may be moving to Mill Valley (from Socal) due to a job opportunity there. Everything we've learned about Mill Valley so far has us excited - it seems it is ideally suited for us and our child in every way but one - the price of housing. If we do end up relocating there, we're considering renting a single family home since there's no way we can afford to buy anything that would cost more than $500,000 or that would require more than a $3500-$4500 monthly payment. We really need 3 bedrooms/2 baths and roughly 1700-2100 sq. feet (1 bedroom for us, 1 for baby and 1 for home office - I work from home and require a decent sized home office due to the nature of my work).
My question is should we consider buying a tiny condo and live totally cramped until the market turns around vs renting a larger space now since by owning we at least might be able to move up the property ladder vs locking ourselves into indefinite renting.
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