Should I buy a high cost of living property if there's a chance I might move later? Or just keep renting?

NSFW

I have the opportunity to live and work in Canmore, Alberta and can also afford a mortgage up to 1M. A 2 bedroom condo that I would target is probably 800K (roughly 4.5k/month in mortgage + expenses etc).

The problem is rent in the area is only 2k/month, give or take, and there is a decent chance I may have to move for work in about 3 years, in which case I'd have to rent the property out and be cash flow negative to the tune of 2k+/month. However, I can see myself visiting the area several times a year in the future and possibly retiring there, so I am conflicted about whether or not I should buy the house or rent.

Thoughts?

Posted May 4, 2022, 1:55 AM UTC

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