Is it better to invest in state or out of state?

[Ian Rivera]

Hi everyone,

I hope you all are having a great day! I wanted to ask for your input. Just like a lot of others on here, I'm new to the real estate world and I'm looking to buy some property. I currently live near Orange County, CA, and am looking to buy a 2B/2B condo for around $450k. I have a little less than 10% for a down payment so I would have to do a PMI. Lately, I've been discouraged to continue looking because properties around this area are ridiculously expensive and the HOA's are around $250 monthly. So I feel my mortgage payment in total would be pretty high. I was planning on renting out the 2ndroom so that would help with the payments.

I also have plans to move to Portland, OR, within the next 3 years and plan to live out there for about a year or two. The market is a lot more affordable and I can buy a home now with no HOA. So my question is, would you think it's better to consider buying now in CA or invest out of state? Essentially, I am looking for a property I can eventually rent out. Any input would greatly help.

Thank you very much,

Ian