Would you guys buy into a hot market area right now and bow out and rent? Husband and I are moving from NY to a hot market area in PA. Houses are going over asking waived inspections. We are ready to buy and need to move within the next three months for my husbands job. Market in the area is wild so we don’t know if it make sense to just rent. We’ll make our own decision but curious what others would do.

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Hard to give universal advice. Location freedom vs ownership, both have benefits. Giving money to a bank in the form of interest or a landlord in the form of rent. No one has a crystal ball to know if we’ll get 8% or -8% appreciation in 2025. You can also invest in the S&P500, or buy a vacation/weekend home instead. Last time I lived city center apartments were 1.8 million, rent was 4k. I’m not buying into that market. I bought the vacation home and traveled there on weekends. You should also consider how long you’ll be there, to buy it should be a minimum of 5 years.

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What hot area in Pa?

I agree with above poster. Both have pros and cons. But overall rent may be better IMO. You can put your remaining money in different investments vehicles and don’t have to deal with the headaches of owning. The 1MM+ price tag for an average home in several markets just doesn’t make sense to me.

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