Buy Retirement Home now or Wait?
Purchase price for new home now 300-350K .... price in 4-5 yrs 360K-402.5K.... savings approx 60K less interest on 300K mortgage @ 2.5% (30K-37.5K) = 23.5-30K
That that sound right?
If I put the mortgage payment aside would have about 70K in 5 yrs and the mortgage remaining after 5 yrs would be appox 260K
Looks to be close to a wash either way but if real estate values keep rising at current rates over 4-5 yrs be way ahead? The area I am considering had a 10% increase 4th quarter 2018 compared to 2017... so if that continued that 300K home would be 485K