I'll pick up where Min left off.
Nobody has a crystal ball, but you have to be real honest about how long you plan to be there. This makes a big difference in choosing to rent space or rent money (buying).
Don't convince yourself that if life throws a curveball that you'll just rent the place to keep up with the mortgage...huge pain in the ass.
I will be 44 next month. I've bought my last two homes. I made $20k on the first having been there less than three years. Last month I got a chech for $13.72 after being there for almost a decade. I know that the next 20+ years to retirement will require some moving so the next property I buy will be where I plan to retire.
Always a tough decision. Keep Min's analysis in mind and never forget when you buy you are renting money for awhile.
Almost forgot, DO NOT borrow the money for your down payment cleverly disguised as a PMI loan.
Nobody has a crystal ball, but you have to be real honest about how long you plan to be there. This makes a big difference in choosing to rent space or rent money (buying).
Don't convince yourself that if life throws a curveball that you'll just rent the place to keep up with the mortgage...huge pain in the ass.
I will be 44 next month. I've bought my last two homes. I made $20k on the first having been there less than three years. Last month I got a chech for $13.72 after being there for almost a decade. I know that the next 20+ years to retirement will require some moving so the next property I buy will be where I plan to retire.
Always a tough decision. Keep Min's analysis in mind and never forget when you buy you are renting money for awhile.
Almost forgot, DO NOT borrow the money for your down payment cleverly disguised as a PMI loan.
