Buying vs. renting a house - How do you decide when is good to buy? By renting I should pay 3-3.5K per months. I am married w/ no kids.

like
Posting as :
works at
You are currently posting as works at

Generally you should only buy if you expect to stay for at least 5-7 years, if rental properties in the area you want to live are limited, and/or if you expect significant capital appreciation over the time window you will live there. Otherwise, buying doesn’t make much sense

likehelpful

You save money by adjusting your lifestyle, not by renting vs buying

like

Buy if you have down payment saved up. You are already "almost" paying what could get you a decent condo on mortgage. Why not build equity and have that sense of ownership.

like

@Deloitte 1, thank you. What do you think about timing now? Is it a good time to buy a house in general? Or you guess there might be a crash soon?

like

@deloitte 2, thank you so much!

like

Gotta put the area, brohl. If you paid 3k here for a single, I'd hang me self

Los Angeles / Santa Monica area

I’m thinking about buying in WeHo/FairfaxLaBrea. It’s crazy out here

Buy when you have kids - it’s a pain in the ass taking care of a house and pouring your hard earned money into it - invest what you would have put down and the differential until you are ready

@Sm1, is not it supposed to be saving money by buying a house ?

Bigger, nicer place = less money saved any way you fund it

How much is it to rent the same place vs. buy it? I am not familiar with LA but my brother lived in Hermosa for 8 years and rented. Said he couldn’t buy for anything near the price.

California locks in property tax at the purchase price and it doesn’t adjust from what I’m told.

I would only buy if it was cheaper long term (building equity, mortgage interest tax deduction, etc) but if you aren’t staying that long or may move to a better school district once you have kids, I would reconsider.

Isn’t yield the only consideration here (besides short-term reserves)?

Whenever I'm debating, I use this site. So far, I've always decided to keep renting, in part because I'd want to buy a place nicer than I rent.

@OP- unless you have knowledge of the macros in your city, I wouldn’t suggest buying based on assumption of increasing home values. Too many unknowns in the market and too many other options with higher prob of better returns.

Related Posts

Looking to buy in the DMV suburbs (northern VA). Is this the wrong time for such a move? Beyond down payment, got about 6mo emergency fund and must tap into it for moving&house expenses like furniture

like

If I made $1000 in dividends this year, would I have to pay any tax on it if my total yearly income was less than $20000?

like

Hey there! really need a change in pace from being in higher levels of care, and am wanting to go part-time with my company and private practice, but I want to buy a house in the next year and am worried about finances. Can anyone speak to the hardships or successes or a counseling of practice and/or buying a home shortly after starting one? I feel trapped in my current job because I’m worried the timing isn’t right.

like

Thoughts on dipping into the condo market? Was thinking of waiting till March but don't think prices will drop that drastically and will be ok long term...

like

List the college you went to. When you graduated. How much you pay monthly on student loans and when you think you will be done.

like

Anybody have experience with PenFed for a VA loan? Came up in a search and their rates are extremely competitive. Any reason I shouldn't take the lowest bidder?

like

Best place to get pre-qualified for a mortgage?

I have some collections on my credit report. One from an electric company for $800 (imo they violated terms of contract and sent me to collections in spite of their fuck up), and an apartment for $80~ that charged me a cleaning fee when my apartment was spotless.

Despite these two collections have a 712-720 credit score.

So mortgage lenders care at all about the collections or is it mostly the credit score that matters?

(cont)

like

Amex Platinum or Chase Sapphire?

like

Can you explain why you would stake OHM? Seems like you are just buying SHOM by staking (which has actually lost value when it was supposed to be making crazy 8K% APYs). Number of coins doesn’t grow, just their value. What am I missing?

like

What's your biggest net new account this tumultuous year?

like

I might come off as naive here. But how is options trading different from setting a limit buy or limit sell. Any beginner article I can read up on options?

like

Looking for a good personal finance or similar book to read. Any suggestions?

like

Better mortgage vs. Rocket mortgage - anyone shopped with both and what swing your decision?

like

What stocks are you guy guys buying right now in this market?

like

How do you guys go about adding beneficiaries when no body you want to add as a SSN? Everywhere I have seen it, it says optional but I wonder if should I die, they will get the money without the ssn?

This might be a stupid question - is now a good time to rollover the lump sum from ex employers pension to my new employers 401k since the markets are down? Does it have the opportunity to grow more if I do it now, or is it all the same?

like

Can I afford a $1.5M primary residence with a ~$9,000 monthly payment after 20% down if my household monthly take home is ~$25,000 (with another $50k in annual bonus)? No debt other than monthly credit card bills. Am I being irresponsible? Will I struggle month to month?

like

Hi new to crypto! What apps/sites would you all recommend to start investing? I have Robinhood but it doesn’t have a lot of the crypto options

like

Hi y’all! I’m a financial educator and my job is to help families in need of financial education! I help anyone on learning how money works here in the US & how to get rid of debt! I offer financial products that help you protect and grow your money. I’d love to help you out in reaching your personal financial needs!
I’m also always looking for people to hire!

like

More Posts

Preparing for another week ahead. Stay safe out there.

Post Photo
likefunnysmart

For Plaintiff's attorneys, how big is your caseload? What kind of cases are the majority of them and are they in suit? I am currently handling 150+ mostly MVAs and premise liability cases, just about all in suit, (on top of about 10 DUIs and other small traffic matters) and I feel like I'm drowning and looking to jump ship. What is normal/to be expected? In NYC area if that matters

like
likefunny

Long-term disability on H1B - Yay or Nay? Lots of online forums say, visa holder will be out of status for major part of LTD and thus it makes no sense to buy

Has anyone been admitted to Massachusetts by transfer of UBE score? I submitted my application in July and took and passed the state law exam today. How long after this were you admitted? Thanks!

like

Tired of hearing all the "account people suck” comments on this app. Get some new material creatives.

like

Who do you follow for Organization Design methods and market trends?

smart

What agency is doing the new Twizzler ads?

like

What big moves/life changes are you guys making in 2020?

likeuplifting

Hi Fishes,
Can anyone please refer me
Goldman Sachs for associate profile. I have job id with me

My international flight is delayed due to closure of Pakistan airspace. Going to miss my connecting flight (on a different carrier) . Can I apply for trip cancellation insurance with chase for this ?

like

What's the best area to live in as a young twenty-something female? Want to be safe but also have fun, and good food.

like

Where can you buy a good office chair and sit/stand desk near Toronto? Getting them shipped from the US is mad expensive.

like

I’ve seen BareFaced mentioned a few times in this bowl. Previously I’d never heard of it. How does it compare to a SkinCeuticals or a Obagi - especially for products like VitC and serums?

like

What's the deal with PTO, holidays, and utilization?

like

How do you deal with a coworker you just simply don't like as a person?

like

Do you tip your building's doormen when moving? If so how much?

like

Hi everyone, I am looking to join a team ! I have 4 years of recruiting experience within the healthcare and staffing industry. I would love a remote position or on-site positions within the DMV area. Please let me know if you know of or have any opportunities available. Thank you !

like

What is the base salary for Manager level at Accenture?

like

Additional Posts in Consulting

Here's a question I wish I never had to ask. Is it better to use the code for bereavement leave or just burn pto I'm going to lose anyway? Does it make a difference from a utilization standpoint?

like

Im wanting to leave Consulting, but on the brink of being promoted to SA in December. Should I just wait until I’m promoted to look for new opportunities?

like

Considering the FRM certification. Those who’ve taken it, how quant heavy is it? I have a compliance risk background and don’t have a deep math or statistics background. However, I want to expand my skillset. Any thoughts?

like
like

Best consulting firms with best WLB? Do they exist? Young professional starting to think about where I'd like to work hard to end up in the next 5-10 years.

like

#Tipoftheday - Consider standalone travel projects - nobody knows where you are so you can work from the pool while drinking PPT juice 😎🍸

likefunnyhelpful

Serious question: Sheraton cancelled my reservation and I was stranded for a night last night. Called CS and my useless ambassador and they cant help and “sorry”. How do I escalate this?

like

Best consulting firms without the massive ego?

like

If you get laid off when you’re in the middle of an interview process elsewhere, do you tell the prospective employer?

like

A colleague mentioned to me that they bill self study instead of pto. If I’m utilized at 100%+ and staffed on a client and take 3 days off wed-Sunday, they say bill self study and save pto. Advice?

like

View from the wing. I’m going to start taking photos and make a scrapbook for when these days are behind me. Just FYI, I guess.

like

How many of us are working with just a bachelor's degree and how's it going? How many of us feel like/have experienced advanced degrees opening more/different doors?

like

What are the key things one should save when leaving Accenture? Things like key contacts, links to alumni sites, any well being points?

like

I hated my project for reasons both legitimate and petty. I worked fairly hard for awhile, diplomatically rolled off, and got a better project. I'm happier now. Ama!

like

Owe ~$4,500 in taxes for 2020. Anything I can do to reduce this amount? Going to contribute some extra money to 401k to get me to 19,500 for the year. Anything else?

like

Rolling off a project always reminds me of the tagline from Drive: "There are no clean getaways."

like

Livestream. Nooooo, don't fail me now!

like

Looking to switch into smaller consulting in Chicago. Currently working in SAP, but looking to get more into strategy. Which consulting firms should I look at? Hopefully better benefits, bonus, pay, etc.

like

Insights /tips you have learnt over the years dealing with difficult clients/bosses/engagements that you wish you had known earlier... Looking for crowd sourced modern day "art of war"... Go

like

Why do some people get laid off and others not? Is it always utilization? Do people typically know they're at risk before it gets to that point?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal