Reply to Anyone decide to rent instead of buy to maximize other investments ?

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[quote=Anonymous][quote=Anonymous]I'm single and live in an area where I can rent a 1000sqft+ 2 bd apartment with garage parking in a luxury building across from the metro for around $2200/mo. To purchase something similar in this area would be north of $550k plus an additional $500+ per month in condo fees. I just cannot make the math work out to find that buying is a better deal for someone like me, ESPECIALLY with the condo fees, which are ridiculous around these parts.

I've lived in the area for almost 10 years and property values on these places have not increased enough to consider it a wise decision. I've even seen several listed at least $10k below purchase price from 5-6 years ago.

If you were looking at a SFH and planning to stay for 10+ years I could see where the math might work out. For everything else, it just doesn't make sense. [/quote]

Agree with you and then I rent for a similar price and still invest thousands. But reality is 99% of people out there when they buy they compromise -- they are not across the street from a metro, they aren't in any kind of luxury accommodations etc. For city/metro convenience and luxury, as you say you'd pay a WHOLE lot more to own -- that's why people go further out, get older homes/apartments etc. when they buy. [/quote]

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