Related Posts
Amex Platinum or Chase Sapphire?
More Posts
What agency is doing the new Twizzler ads?
Additional Posts in Consulting
Best consulting firms without the massive ego?
Livestream. Nooooo, don't fail me now!
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.




Whenever I get the urge to buy, I use the NY Times rent vs. buy calculator and decide to keep renting ... in part because I'd want to buy a place nicer than I rent. https://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html?mtrref=www.google.com&gwh=381F1A8EFAFE18F29E3D0BD3371D3DA9&gwt=pay
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
You save money by adjusting your lifestyle, not by renting vs buying
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.
@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?
@deloitte 2, thank you so much!
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.