Reply to Is this a crazy idea? A twist on the rent vs. buy question

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[quote=Anonymous]We own a small townhouse in a great, close-in neighborhood that's seen a huge jump in value in the past decade or so, and we think the area is only going to continue to appreciate. We love it here, but we'd like more space and also we're not that happy with our public school options (can't afford private). We could sell tomorrow and, for the same amount of money, buy a house that's twice as big and in a much better school district, somewhere like West Springfield or Burke.

However, I think that the area we're in is likely to gain more value in the coming years than West Springfield or Burke will. Also, in 15 years or so when our kids are out of the house, this place will be the perfect size for us again. So here's the idea: instead of buying a "forever house" further in the suburbs, we hold onto the place we own and rent it out for 15 years, and in the meantime rent a house in Burke or West Springfield during that time (the rents we'd pay and the rent we could get for our house are also comparable). Then in 15 years, we move back here.

I wish we could buy further out while also holding onto this place and renting it out, but unfortunately we'd need to sell it to have a 20 percent down payment -- with daycare expenses we can't save up that much again.

Is this a crazy idea? It doesn't seem like anyone really does this, but I think it could make sense in our case. [/quote]

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