re: When does it make sense to buy vs rent?

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. If you are planning to move, or your job may require you to relocate, renting makes a lot of sense.

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I could see myself moving again at then end of the 5 years. The type of job is pretty much a guarantee that I won't have to relocate over the next 5 years unless I get fired.

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If the economics are similar (rent/mo vs mortgage/mo)

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Yeah, I'm going to be looking more into this over the next week to get a better idea of my options. I just found out recently that I will heading to Richmond so haven't had time to completely look into the entire area.

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7 years

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I'm pretty much here - 5 years is probably the "break even" - so, if it is a maybe stay/maybe go - that might be my starting point, but if 7 is definite, buyers look to come out ahead.

I would be cautious about this with anything other than conventional financing (and I put 10% down in that category) with 100%/near-100% financing, you take a chance of taking a bath when you move. I would also say these "we're not sure" housing situations are better with a 15-year mortgage - builds equity much faster, especially over 5 to 7 years, giving you a buffer if you have to go sooner than you might have liked. Easier to aborb losses in transaction costs, although it does make the monthly cost higher. Looking at it another way - even if believe in 30-year (I don't) you can refi into one if your situation locks into a perfect one after 5 to 7.