Raleigh, Durham, Chapel Hill, CaryThe Triangle Area
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The additional costs of owning a townhome (mortgage principal, interest, insurance, HOA fees, taxes, repairs, etc) will easily outweigh the cost of renting. There is no way that you will make up the difference with capital gains over a 2 to 3 year period. This doesn't even consider transaction costs such as the 6% LOSS you'll take when you sell the place.
One reason to study the townhome communities closely is to weed out the losers. Properly researched and selected a townhome investment can work. Done in haste, any investment can be a loser.
Notice the use of modifiers in this statement to indicate that there is no sure thing.
THAT was spoken like a real estate professional.
Speaking in unmodified absolutes is a first great indication that one may not be qualified to advise another in real estate.
Speaking in unmodified absolutes is a first great indication that one may not be qualified to advise another in real estate.
I used absolutes to state the urgency of my case but here is one position that I'll defend to the grave: NEVER take "investment" advice from a real estate agent.
How about in 10 years, will it have been a worth while investment then?
Nobody can predict that! There are so many factors that drive real estate prices up or down - economy (local, national), interest rates, relocation patterns, job availability, weather, natural disasters, man made disasters, supply, demand, and the list goes on and on and on.
Are you looking to buy purely for investment, or for a home you may move into one day?
If for investment, then do you really understand what it takes to be a landlord? Who will take care of maintenance problems? Who will find replacement tenants? What is the state of the local rental market? Can you afford the carrying costs? Can you afford to keep the place if a tenant moves out and months go by before a new one moves in? How does real estate compare to other investments you could make?
Nobody here can tell you whether investing in a townhome here today will pay off ten years down the road. You really need to do a lot of homework, and speak with qualified professionals to determine the best investment options for your own personal situation.
My husband and I plan to relocate somewhere in Clayton or Fuquay, most likely. We've pushed back moving several times now. I'm on Long Island right now, and we've been staying to save for a down payment, the truth is we are hardly saving at all. Would it be wise to purchase a townhome in hopes of saving and having the home appreciate to move up in 2-3 years?? How do townhomes do as far as appreciation, etc. I know the area is desirable but are townhomes?? I dont want to buy one and not be able to make or lose money, you know? Any input??
Why are you specifically looking at townhomes? You can get houses for the same $$ as a townehome. A nice starter home should not be hard to find. And not to be rude, but if you feel you are not secure financially, in my opinion buying a townhome or house or renting does not seem to be the real issue at hand here. It seems to be more about saving and how best to achieve that goal. And again if financially you are not feeling comfortable, this all could backfire on you.
I applaud you for looking into your queries.
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A nice starter home should not be hard to find. 
