Thinking of Buying in Temecula California
My husband and I are moving to San Diego, CA at the end of this year. We are renting out our home that we plan to rent forever, and thinking of buying in Temecula area. The prices are way better than the city, and although its a far commute, we can make it work for now. We will live there definitely for 2 years, with a possibility of an additional 3 years.
Is it worth buying out there or would it be better to just rent and "throw away" our money in CA? We thought we would do the exact same thing we are doing here - buy, rent but eventually sell it in 7-10 years and cash out in CA with their insane market. I really don't know how to run these numbers if it makes financial sense. We talked with a broker and he thinks we are financially stable to buy a home in CA and rent it after we move, but we are pretty scare of the risks involved in owning a home across the country when we move back home.
We also don't want to be the safe people who never take a risk, and get nothing in return. Any input will be appreciated!