Is it better to buy a house or condo in new york city?
970852
I don't think there is a generic answer that satisfies your question.  If you overpay for either a house or condo, you will get a lousy return on your investment.  Also, note that the supply of condos in NYC is relatively low also as most of the apartments for sale are co-op units.  If you buy a condo, I would recommend buying at least a two bedroom apartment.  1BR and studio apartments aren't as good for resale.
577918
BUYING IS ALWAYS BETTER!  People that rent are making landlords rich, and I thank my tenants for that.  If you were to buy a condo in an area of good appreciation, you have equity in the home whether you are ready to settle down or not.  You are putting money into your own walls as opposed to a landlords pocket, whose mortgage YOU pay when you rent.  I know people that are 20 years old buying real estate because they have educated themselves on this subject.  There are many tools out there for first time home buyers with little or no money to put down.  Research buying or put someone Else's' kids through college.
319248
The equity in real estate is better, since cars are apt to either go missing or be destroyed, making the odds of a repo smaller, whereas a house the odds are much better.\nIt is always on the mind of any lender when making a loan, the "What If" clause if they need to recover their money.\nHope this helps\nJohn
559419
You could rent for a year while you decide for sure what area you want to buy in.  That's what we did when we moved into an unfamiliar state.  Then you won't get stuck with a house in a neighborhood you end up really disliking.  Just be sure to check what the time-line is on reinvesting your capital gains on the sale of your current home.
377531
Don't know anything about NYC prices, but in general, property values are lowest when interest rates are at the highest part of the cycle. But then you have to pay high interest rates if you need to borrow. In that case leave it until after interest rates have peaked, and have fallen to a level you are comfortable with.
1183730
The best time to purchase a house is when you're financially ready to do so.  Pay off all other debt, have a solid emergency fund in place and save up a good down payment. Purchase a home where your house payment is no more than 25% of your take-home pay on a fixed-rate (preferrably 15 yr) mortgage.\n\nDepending on where you live, you may want to wait until the housing bubble pops and prices have cooled off a bit.
213627
how long do you plan to live in it? how important is it to be a homeowner? if you overpay 15% today and next year want to move to a different house, then chances are that it will also be cheaper and it won't matter to you.\n\nquality of life rules!\n\ni bought in Portland last year and the value has gone up 15% or more, depends on neighborhood.
883375
affordability...sounds easy.  Don't get trapped into getting an adjustable rate and hope that the rate will stay the same or go down before it comes up for review.  Your house payment could take a dramatic increase and you might be forced to sell.\n\nnext location is never to be dismissed.  how far do you want to be from your work, friends, shopping etc.\n\nfinally, are you buying it as an investment?  if so, then be sure to buy in an area that is appreciating
69526
I would suggest the New Bern area.  Housing prices are now going up, but the people are friendly and the area is beautiful.
235973
Buy either. The market is great and will continue to be so as the LA area moves north up the coast.
1140204
depends on your lifestyle, you like to move around, rent , if you are looking for something set then make the jump on something while the market is down then renovate and sell. or stay which ever. apprasials are going up for taxes, that is something to think about talk to a realitor, but they get about 6% of sale price and dont think about owner finance its not good for that. good luck
773335
all i can tell you is, dont live in new york city. the value of a semi-duplex house is arouond 300k here.... but hear new jersey's not too bad in that area...though now we don't have tax on clothing as such so that's pretty cool...
293819
Obviously a condo or townhouse is easier to maintain, that's why you pay association fees, so the maintanance is done for you. \n\nWhether which is better to invest in depends on the location. In large residential areas, usually a house has more appreciation value.
790542
Use it in SA. The weathers nicer, the property cheaper and I'm sure you could make some sort of income from it before you return home.
38921
Probably not Philidelphia. Why not stay at boston and simply move to a cheaper apartment. If not, go to New York.
61705
In Chicago - 200K -400K for a nice condo.\n\nOutside of Chicago in the Burbs' 200K-400K for a huge house.
379847
Depends on where you live and what houses cost in that area, and what sort of house you'd be willing to get. I think buying a house is a good idea if you can afford it. It can be cheaper than renting if you buy the right one. I don't care how cool your parents are, the sooner you have your own place the sooner you can live life your way. I'd recommend looking for a "fixer-upper" house that you can fix up yourself. It can be fun!