House Hacking vs Cheap Rent

[George Sims]

Hello,

I'm thinking of purchasing a home in the year 2023 . And curious to hear what would be the most effective way to utilize my capital , would it be best to be patient for the market to cool since basis pts keeping up, utilize a loan and refi later on down the road , or would it be best to try and do something like seller financing?

Additionally, I heard that the 97% conventional loan is quite useful for first time home buyers, if you have any experience or heard of anyone dealing with this loan , would you recommend utilizing this ?

Area:

The area has a tendency of having higher home prices that typically don't offer great quality homes ( homes built before the 70's). With the being said the area has next to no crime and is definitely landlocked due to govt property ,Indian reservations and a national rec area. The primary form of employment is through the govt with employees earning median salaries of 130k per year , the town does not see huge population growth either. But has a tendency to appreciate and will have a future ,due to the Facility being supported for more than 80+ yrs , by the govt.

PS: Thank you for your time in reading this and I appreciate all the wisdom and help!

Thanks,

George