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?
Answers | 3
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
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.
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...