Buy a house now, or wait - unusual circumstances!?

I have $40,000 down, can afford $3000 per month and have good credit. The thing is, I won't be living in the USA until 2017! Should I buy now and rent the house out, or wait? By 2017, I won't need a loan to buy a house (I'll have saved $800K), and I will be retiring - to live in New England (NH or Vermont). Should I pay 2007 prices with a loan at 6% (or 2008 by the time I locate what I want) or pay cash in 2017, at those prices, whatever they may be? Another option is wait 2 years for prices to bottom, then buy and rent it out. If I buy in 2009-10, I may be able to swing 50% down. The longer I hold it, however, the longer I have to pay property taxes and all other fees/expenses. My details: 41yo, married, zero kids (CF) ~$100K tax-free pay, total monthly expenses <$1000, $145K equity in foreign condo (we own it - paid off), other investments (Stocks/bonds, etc) = ~$80K. Zero debt; zero expensive habits. I really want to retire/move home to the USA in 10 years. Thanks in advance!

Buy now, forget what the media says, real estate rarley goes down, and when it does its usually confined to really small areas for a short period of time. Real estate in the USA doubles about every 12 years, that means if you want a $400k house now it will be about $700-$750 by the time you retire and take all your savings.

With your down payment you should be able to buy the property do a 15 yr mortgage and the rent will cover all your expenses, in 10 yrs you would only owe about $150k then use your $800k or so to pay that off, and enjoy life.

Wait till you're ready. You can't know for sure now where you will really want your house. Maybe you will decide to move to Guam or some such place.

Besides, for all you know, houses might actually be cheaper then.

I think you should be buy now and rent the house out, at least you have some money coming in which you can save.

waite un tell house become cheeper, to avoide looding of interst

as you pointed out, buying a property now will result in many transaction and holding fees. If you think the "real price" (price minus inflation) of housing will increase then you will better off buying now because you will be able to buy more with your money now than you will be later on. If you can receive close to your monthy repayment in rent for the house then i would say it would be worthwhile buying it. However i suggest you see a financial advisor to setup an investment strategy that will allow you to earn how much you do now once you hit retirement, that way you will not have to comprimise lifestyle and stil have retirment. Generally takes around the 7-12 year mark so might be something you can look at so that you can retire on your current yearly income and expect that after you retire. Once you do retire then you always rent or buy a home and because you have no children who want a slice of your equity renting is always a good option. However, if ya like the homliness you can start a mortagage 10 yrs down the track.

best of luck

ha,'ha:'h'`a', Pick which`ever option that will keep making money for you !! & that wo'nt interfere!?! or much with your plans !?! & wo'nt cost you much to up`hold your current standings !!?!! Good Luck~!!! "R"r,r`r,r'.->

buy now ---prices already went down ----no more decrease ---only going up ---also consider that rates are good now ------2 years from now ---8% will be the best rate

Buy and rent only if you can get a reliable local property manager who will screen tenants carefully and look after your property. The going rate in some areas for property management is 1/2 of first month's rent to find and screen a tenant plus 10-15% of the montly rental charge. Realtors will do this but have bigger fish to fry and won't put much time and effort into managing your property. If you are a hands on type and don't mind managing people who are in transition and you don't mind paying for frequent repairs and chasing rent payments, then go for it. It's a trade-off. The property will appreciate and rents will come in, but you'll have your share of headaches. It's an personal preference decision as much as a financial one.

I would think if you can do it now you should. By 2017, the equity build in the first property could be used to put you in something newer, larger, etc!!!

Buy a residential lot then build the house of your dream when you are ready. If you don't want to stay in the state where you bought your lot then you can re-sell it. Within ten years before you move back to the states your house might be in neglect and you need to build it back again. On a lot, it can not be burn down or destroyed. Also, you don't have to worry about management, only the taxes which is much lower that a complete residential house. Invest your money on mutual funds, stocks. When you are ready to retire it could be in millions and you can always afford to buy a house.