renting vs buying a home or condo/townhouse?
364240
Owning a house is the best from an investment standpoint. Condos are pretty good too although the market is different. They don't increase in value as much, you have to pay an extra monthly fee but you don't have to worry about taking care of the outside. Renting is money out the window but you may want to consider it first so that you can really take your time and look over the housing market in the area you will be going.
536353
Over the long haul, you'll make more money renting if the property values are increasing in that area.  HOWEVER, there are risks in renting like shady tenants who don't pay or trash the place, and there is a lot of upkeep in between the tenants that will cost you.  So it's really up to how much work you want to put in.  Also, if you can't find a tenant then you're paying your current rent plus the cost of the flat, so that should be considered.
336208
It varies a lot depending on the location and how fancy you want to go. I'm married to a military man and we travel around the country a lot. On the east coast in Maryland we paid about $1100 for rent, but in mid-Michigan I paid $499, and that was for a townhouse! Are you renting month-to-month or did you sign a lease? Signing a lease ensures that your rent won't raise until the lease contract is up, even if the property value goes up.
485661
Well, it depends- if you are buying on top of a real estate bubble, where you have to really stretch your budget to buy a place, you might be better off to get an apartment and wait until you can better afford to buy.  In a normal market, where you are not having to stretch your budget, you are better off to buy.  First reason is that the interest you pay is tax deductible, rent is not.  Also, you then own an asset on which you can make leveraged gains (meaning that you make a gain against your equity, and also the money that the bank loaned you to buy the place).  It also gives you some security from the standpoint that you know that as long as you pay your mortgage and your taxes, you can never be evicted from your home.
413985
Well, I would definitely wait until these current housing prices bottom out. I'm not sure about the 7 year rule, because real estate is LOCAL. That means if you find a good deal in an area, don't wait to buy it or someone else will. Prices can crash in one area and stay strong in another. It all depends on the local economy.
838934
For me, the reasons to buy a condo include location and access to the things I want and need (grocery, banks, work, shopping), low maintenance (no yard care) and a sense of community through the amenities such as fitness center, swimming pools, tennis courts, and clubhouse.  The negatives to buying a condo is that I don't think they appreciate as quickly in value as single family homes do.  One reason for this might be the fact that at any given time, there may be units just like yours on the market, so there is more competition to keep the price lower.  If I were looking at buying a condo, I would pay careful attention to how the common areas are kept, whether you receive parking or a garage with your unit, what the HOA fees will be each month, whether any extra HOA assessments are coming due, and the ratio of owners to renters in your development.    Good luck!!!
223989
market determines the rate, look in the paper and find comparables.\n\nIf the neighborhood is not much of a rental area then you can charge a little bit higher rate but it will be harder to find a renter.\n\nYou don't want to have less money coming in that going out. You need to have a positive cash flow or you won't have the money to keep the house fixed up when it needs something and it will grow less and less valuable (might still go up but not as fast as the neighborhood) from deffered maintenance. You would be better off selling and buying a rental that has a positive cash flow.
112102
Depends on your situation and the available of housing.  Sometimes going back home is the best choice since you can save money and be able to afford to live in a "nicer" place.
982935
The buy vs rent question is very popular. And truthfully only you will know the answer. Although here is my personal opinion. Rumors of the bubble popping have been circling for years. Not only that as long as million dollar brownstone's and other exceptional purchases will continue to happen you are correct the new york market is quite immune. Here is something o think about 5 years from now if you purchased you could have maid a nice sum of money for selling the property, or 5 years from now you will have paid some one else a nice sum of money with nothing to show. If you feel you can afford the housing expense then go for it. Homes are investments, apartments are liabilities.\nIf you like there is a rent vs own calculator on the following website so that you can make a more educated decision if you like.\nAlso feel free to log onto http://www.justgetaloan.net for a fast free pre-qualification with loan programs on low rates, great terms and service. Also fee free to contact me at 866 530 7300 ext 7305 or by email at jfreeman@justgetaloan.net
91765
Whether you should rent or buy really depends on a lot of factors.  If you only need a place to live for a short term, you should rent.  If you want a place to build equity over the long term, buy.  However, if you buy now, don’t expect to see the massive increases in property values we’ve seen over the past few years.  The housing market is cooling some, so prices are leveling off.   That in mind, the housing market has historically performed very well as an investment.  I wish you all the luck in your venture.
10605
Hi I'm looking to buy a place also. You are somewhat younger then me, I'm 25. I think that a house is always a sound investment for people who can stay in one place for a long time. I would suggest talking to a real estate broker about your finances. But the real question you should ask yourself is, “At this young age am I ready to stay in this home for at least 5 years?” If the answer is no then I would continue to rent.
1056785
if you can find a home in your price range that will appreciate in value, i think putting $$$ towards equity rather than just rent is a good idea - but make sure it's a home that will grow in value - and don't do an interest only mortgage unless you're disciplined enough to pay more than what's due each month
47651
I suggest you have an apartment for several years to save a large down payment and find exactly the right home for yourself.  Paying rent IS like flushing the money, but in the long run, the investment of a good solid home is worth the wait.
269164
It depends. If your financial life is in order and is able to get a loan then you can conceivably buy a house and move in it within a month. But this also depends on if there's a lot of houses for sale where you want to live.
5579
I think that if given the choice between rent and buy in this market, I would buy if not worried about the "bubble" bursting and rent if I was.  The real estate values are inflated right now which is why it's called the "housing bubble."  If you buy a 650k house today, when the "bubble" bursts and the value declines largely, you will be paying a 650k mortgage on a 400k house.  The rates being low is an advantage to home owning right now, but the interest payments are always "write-off-able" for your taxes.  If you are not worried about the bubble bursting within your 5 year stay at the house, then I would buy.  You would be able to build equity and not have to worry about rent increases.
333126
I am not sure whether you are asking which is the better purchase option for you, or if you are asking whether you should purchase a home at all. If your question is the second one, yes, you should purchase one or the other, as you will be building equity of your own, rather than paying rent, which is building equity for someone else.  If you are asking which to purchase, there are a number of things you should consider.  While a house may appreciate faster, thus allowing equity to build faster, it requires a lot more maintenance, repairs, and yard work.  Are you equipped to do these yourself, or have the resources to pay someone else to do them?  Talk over everything with a real estate professional you can trust.  Look at every consideration you can think of, and decide which would be best for you.  Only then should you start to look at potential properties.  Good Luck!
300720
Actually in the Vegas market, Condos will appreciate more (by percentage) than houses over the next few years.  Every market is different.\n\nCondos are usually less money to get into.  Minimal maintenance.  Easier to rent out if you need to in the future.  Most have access to a pool and workout center.\n\nAssociation fees are usually a little higher than a house, but you are not required to have full insurance coverage as your association covers that.