Flagstaff: Buy or rent for 2 - 3 years? (real estate, apartment)

[brigid1]

Hi -

I have lived in Northern Arizona for five years - now newly divorced and trying to decide whether I should rent an apartment or buy a condo if I plan on moving out of Flagstaff in the next 2-3 years or so. I started a new job this year, so I'd like to stay with it for awhile before moving.

I'm considering buying a small 1 br condo in the Country Club area, if it will be a good investment in the future - will it be rentable or sell-able in a few years?

Or would it be better to rent and not have the $$ tied up in real estate if the market stays as is (or gets worse!)

I can only afford a 1 br condo in Flagstaff and it looks like the montly mortgage costs (plus hoa) are about the same as renting an apartment.

Thanks!

[coltoncity]

I just got back and am looking at renting for awhile. But I know the prices have dropped on buying. I would think that with the town being fillled with University students there would be a large amount of people wanting to rent. Some people send there kids to college in Durango and get a lease for a year. Some buy a place for 4 years but they are money baggers. I would think right now you would look into long term investments. No place is going to sell at a higher rate in 1-3 years IMO. But rent it out. I can tell you also I was looking at houses and they were going for about 1300-1450 a month.