I would think buying now because of low home and mortgage cost would be a good decision. I personally would go resale because a new home requires a lot of things to do soon. Landscape, attic stairs, managing the home warranty, and just getting the things you want. And you need to be there for a lot of it to get done. I would purchase as much as you can comfortably afford. Approximate cost will be: Patio Villas will run $135K to $145K (1150 sq ft), CYV from $160K to $200K (1150 to 1600 sq ft) and a 3/2 ranch home from $160 to $190K (1250 to 1600 sq ft). Add about $500 a month above PITI for TCO.
You may want to rent two or three times in different locations to determine where you would like to live, but value wise I believe you are very safe to purchase a small home now.
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