Hi there everyone,

I'm 35 years old, I'll qualify for collecting a pension in nine years. I would like to move back to south Florida. I am debating when to make my home purchase there. My feeling is that the market is not only depressed but re-adjusting to pre-2008 levels (actual value of the home), so I don't feel any pressing urgency to "get in at the floor," but wonder the cost/benefit ratio to buying early out of state with a smaller down payment while building equity/locking in at recession prices, or buying when I can occupy the home with a larger down payment.

Specs: 41K salary right now gross, 10% to put down
63K in three years
Credit score: 749

Random thoughts: Would probably look better on paper to apply for mortgage while still have my job up here due to length of employment. Planning on renting it out or a room when occupying, but won't factor this in as guaranteed income. Family can provide limited caretaking.

Thanks!