My wife and I are looking to build a home that we would be happy in as our forever home but would prefer to move out in 6-10 years to buy more land/house. I’m a physician and if she’s able to become one, we will move.
Is this smart during this chaotic time? From the purchase price, at about year ten, we’d have between 250-350 k equity. Assuming no depreciation or appreciation on a new build.
My wife has great style and her upgrades rent well on our rentals, so I think our design would be appealing.
Any thoughts on this?
Rates are so low now tho too. Which is enticing.
Not sure if it matters. Doing 0 down, no pMI with special mortgage.
Homes in the neighborhood range from 500 -1.25 mil. Ours is about 60th percentile but neighbors to a new build already with a million in
thanks in advance