Is it better to buy a home in my current town where I rent cheaply but dislike, or buy/rent where I'll retire to in 18 years?

Asked by Robert

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Answered by David Skow, Mortgage BrokerPRO+ in Seattle , WA
Good question ..there are so many moving pieces to this question .....eg. if you buy in desired location - would you rent it ? If yes- can you cover mortgage payment with rental income ? Can you purchase something in disliked location and have it be the same or less than your rent ? What's the likelihood you will leave disliked area in next few years ? I hope this helps a bit | 06.04.15 @ 22:14
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$commenter.renderDisplayableName() — {comment} | 12.08.16 @ 00:34
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Answered by Robert
No likelihood in leaving B for the indefinite future. Yes, I'd rent out the home in A and continue renting inexpensively in B. I did this the first two years here, and the rental covered the mortgage. (I sold the house in A for a number of reason, chief of which I didn't ever plan to live in that neighborhood.) My situation is similar to many who are in clergy or on active duty military. | 06.05.15 @ 10:18
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$commenter.renderDisplayableName() — {comment} | 12.08.16 @ 00:34
Answered by David Skow, Mortgage BrokerPRO+ in Seattle , WA
thanks ...depending on the location and forecast for the area you plan to buy and relocate for retirement ....it might be a wise move to try to buy now...

| 06.05.15 @ 19:53
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$commenter.renderDisplayableName() — {comment} | 12.08.16 @ 00:34
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