renting vs buying in central MA (Worcester, Natick: real estate market, rentals, mortgage)

[naport]

Ok--we know we will be in central MA at least 2-3 years, starting in the summer. Given the current real estate market/climate in that area, what is the minimum amount of time people would recommend spending in a place in order to justify buying (as opposed to renting) a home?

Also, what do folks think about the prospect of renting out a single-family place for a year or more if/when we move elsewhere after those first 2-3 years? The thought is that this could let us buy a place we really liked by hanging onto it long enough to make the purchase "worthwhile." If you have rented out single-family homes (ie: been a landlord) in any of the towns mentioned below, please feel free to comment on the experience!

To fill in some details:
We are looking at 3+ bedroom homes in the 400-600K range within commuting distance to Worcester and Natick and have pretty much narrowed things down to a few communities: Hopkinton, Northborough, Southborough, Westborough, and Shrewsbury. We have fairly definite ideas about where we want to live and what kind of place we want to live in, and we aren't necessarily finding rentals that meet these criteria. To buy a place would offer us much more choice in our living situation.

Any pearls of wisdom about real estate as an investment in this area and era?

Thanks for all thoughts on this!

[gf2020]

I would buy now. With the current tax incentives and low mortgage rates, I doubt you have anything to lose.

Prices in those towns will certainly not be lower in 3 years than they are now.