Upgrade primary residence and rent out current or buy investment?

[Shane Gaboury]

I recently bought a condo and I am thinking of living in it for 2-3 years and buying a town-home next. Currently, I am saving around 1k/month. The goal would be to save for the town home now and eventually rent out the condo. The current PITI plus condo fees, utilities. is about $2,000 and rents are going for roughly $1,700 for similar properties. I doubt that the rents will catch up to my PITI + Utilities - Vacancy etc. in 2-3 years.

Would you recommend a different plan? Perhaps staying in the condo longer and purchasing an investment property as opposed to using the town-home as our next property?

Thanks for the time