I am about to relocate (from outside the US to Massachusetts) for a limited time period (~4 years). Compared to my current job and expenses, both prices and wages should be approximately X1.5 times higher at the new place. I have moderate savings ($250K) and for various reasons, I currently rent (mainly, it was easy not to deal with buying a home). Taking everything into consideration, I should be able to continue saving moderately in the new place like in the current (~$400/Month).
Should the fact that everything will now be multiplicatively more expensive affect my choices of owning a house, i.e buying rather than renting in the new location, America (with the intention of continue owning and renting it after i depart America)? The way I think of it is "in the short relocation time I will spend on rent an amount that will account for a large portion of a house in my original location (~40%), it's such a huge sum, why not leverage it to owning a property that is much more expensive (=rent yielding after I come back) than I would originally ever think of buying?"
Is this an opportunity to own (and continue renting after my departure) a more expensive house than I would normally think of, or if my savings stay the same this should not affect my decision?