[k3oni]

With the market prices being as high as they are now and low inventory I would recommend you rent for now and get to know the new area/city first. It's a seller's market right now and there's a higher chance of you over-paying for a property right now. I keep telling friends that i would rather buy a home with a lower price but higher rate/apr than vice-versa. You can always refinance, but you'll never be able to change the price you've paid.

Edit: Also worth noting that real estate markets are more local, so there exists the chance that you might still be able to find some affordable houses but depends on the area.

[majormajor]

> I keep telling friends that i would rather buy a home with a lower price but higher rate/apr than vice-versa. You can always refinance, but you'll never be able to change the price you've paid.

This is true, but assumes that prices drop significantly rather than merely stop rising like crazy and also doesn't include that if you're renting, you never get that rent back from the period of time you were waiting.

[k3oni]

That specific point was more related to the market i'm in right now, so it's pretty much market/area depended and yes as you point out your mileage might vary as i've never taken rent into consideration for this use case.