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Reply to "If you liked renting would you just keep doing it?"
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[quote=Anonymous]I live in NYC and most people never come out ahead buying here unless you buy in an undesirable neighborhood. To buy the equivalent of the place we rent would cost $3k more monthly. With that said, I did run into the issue of our landlord selling the building after 14 years, which changed my perspective a bit. So I’m always on the lookout for apts for sale where monthly costs are somewhat close to what we pay in rent. But yeah, def annoying even if mortgage free here I still have to pay minimum $1500 in maintenance costs…forever. Also looked into buying in a desirable suburban neighborhood with a decent commute into the city. But taxes are $18k annually and I might as well stay in the city at those costs. I will say we made max $290k for a long time and I think renting below our means has def contributed to our net worth being $3.5 million in our mid 40s. Our apt is also rent stabilized. [/quote]
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