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]

I think a condo ot a different situation.  I dont think you would find many people that would argue that a condo is a good investment.

Home ownership pays off after time. I've been a homeowner in the DC area for 18 years. We've owned a few homes and are 2 years away from having no mortgage at all. We basically have locked in housing prices at 2000 levels. In 2000 buying was more expensive than renting. However we also purchased our first home in Vienna Woods for 245k. A fee houses later we are in s SFH in McLean with a mortgage of 2,000/mo eith 2 years to go. Out home today is worth just around 900k. I'm glad when we move into retirement we can sell our home and walk away with 7 figures in cash. [/quote]

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