Timing upsizing house

Hi,

My wife (31/F) and I (30/M) live in a mid-sized metros in the NW, and have a nice new townhouse in a great part of town that we bought 3 years ago. The house has appreciate significantly since we purchases it, and would bring in about 40% more in rent than what we pay in mortgage.

We plan on growing our family and expect to outgrow this house in the next 3-5 years. Our plan is buy a second house, and convert the existing townhouse into a rental.

When should we try and do this? The market is crazy in our town right now, but the interest rates are low. Should we wait for a year or two to see if some sanity returns to the market, or should we push on to buy something now. What do the experts think?

More real estate tips at Program Realty Wix site

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