Rent vs Buy moving for new job

[Kushagra Jain]

Hi All,

I will be moving for new job in Herndon, VA starting in mid November. I currently live in Texas where I have duplex - renting one side out. I wanted opinions on whether I should buy in fairfax, loudon,etc on rent. My eventual goal is to be back in Texas with the same company or a different one (they have an office where I currently live ) but for now they are making me move. I don't have 20% down but can manage 5% down. Rents are 1800-2200 range for 1b1b and mortgage for similar is 2500-3000. My existing mortgage costs me roughly 2700 but i can make 2500 on the same when I move.

[Theresa Harris]

If you aren't sure how long you'll be there and don't know the area, I'd rent for at least a year.  It will give you time to decide if you want stay there longer term and if you do, where you want to buy.

While looking at rent vs mortgage payments (and property taxes is good), you also have the expenses associated with buying and selling the home.