Sounds like a tough situation, sorry to hear that. I'd also say rent for a little while until you have a better idea of whats going on long-term. here is my thinking:
-Purchase has a lot of added costs that come with it (lawyers, mortgage termination fees, selling fees) that would suck to be stuck with if things all blow over in 6 months and your back to "normal". costs woulkd far outweigh the sink cost of short-term renting.
-renting gives you a a chance to test drive condo/town home life without taking the plunge.
-last point, the market is nuts right now. If it softens up at all the condos and town homes will be hit harder then houses (unless you're inner city). I got hung with a 50k loss about 6 years ago on a 300k townhouse in the burbs. Much more volatile market out there...
good luck, hope it all works out.
All that said, as soon as you know its not short-term I'd be marking a purchase if possible.
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Last edited by TurdFerguson; 09-11-2014 at 09:56 AM.
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