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TMAC54
@
2011 Aug 24, 3:06pm
TMAC54
@
2011 Aug 24, 3:06pm
Even WHEN housing hits bottom, do you anticipate an immediate or significant rate of appreciation ? Base your decision on were you will work, where you will raise your children. There are several online "Buy or Rent calculators" if you want to base your decision financially.
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I'll be needing a house in about 4 years for a family. Currently debt-free. Should I...
A) Buy a house now at 2.5-3x my yearly income. 10% down payment. Keep this house for the long run.
B) Buy a condo now at 1.5x my yearly income. Sell in four years and then Plan A). 20% down payment.
C) Continue to keep renting for four years; all together, .67x my yearly income. Would allow for A) and B) reevaluation after the year lease.
What do you think? Can give more info if needed.
Edit: Edited C) value. Added info.