Updated over 5 years ago on . Most recent reply
Planning on relocating in 10 years. Good idea to buy now?
Hi folks, have been discussing this with my wife recently.
We are looking to move to a warmer location for health reasons / future family planning, change of scenery etc.
Is it a decent idea to purchase a property now and rent it out until we are ready to move in?
Mortgage would be covered for the most part by the renters.
The mortgage would be at a locked price , however rent will naturally rise .
10 to 12 years from now we want to be out of the New York City area.
Just a random idea we had
Thoughts?
Most Popular Reply
A lot can change in 10-12 years. I wouldn't let that impact what you are planning to do now. Think of it this way, if you see a deal that checks the boxes for you and you do not buy it with the reasoning that "I'm moving in 10-12 years so I will pass" how silly does that sound?
- Michael Noto