Asked by Amanda  |  Submitted November 12, 2015

We want to buy a house out of state, and we are wondering if we should purchase now and rent it until we are ready to relocate?

At some point we would love to move to FL, I'm from VA. Wondering should we start to look to buy a house now and rent it out to help with the monthly mortgage or wait until we are ready to move in a few years?

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  Answers  |  1

November 12, 2015

You'd be buying it as an investment property so be prepared to put down a larger down payment and pay the investment rate. If you can carry it as a second home these aspects get a little easier.

Moreover, in that market:
*What's the expected appreciation rate in that market?
*Are rents stable?
*How will you maintain it from FL?

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