Q: We want to retire on Vashon in three years and at the rate prices are going up we're worried that we'll be priced out of the market.

Is it crazy to buy now and rent the house out for three years?

A: No, not crazy at all. I've had many clients over the last few years do exactly that. Most of these folks have watched the value of their property go up significantly and express gratitude that they bought sooner than later. It's very possible that our prices will continue to climb. We hope for some cooling in the market but even if we go back to what is considered "normal" for us on Vashon Island we are still looking at an increase of about 10% per year.

As you begin looking for a home to buy, be sure that you look ahead at needs you may have in the future. As cute as two story cottages and farmhouses are, those stairs can be a problem as you grow older. Be sure there is at least one bedroom and bathroom on the main floor of the home and that there are just a few stairs to get to that main floor.

It's also important that you think about location in relation to your future life. Being off in the woods and isolated can be wonderful but as we age most of us begin to see the value of having neighbors nearby and being a little bit closer to town and local services.

You should also have an understanding of the rental market here so that you know how easy or difficult it might be to rent out the home you select. Renters are rarely looking at the same issues as buyers. They focus on things like the cost to heat the house or on the closeness to schools, rather than the view or style of the house. You also want a home that's in good shape so that there won't be endless amounts of repair and maintenance to worry about during the time you are renting it out.