| ▲ | cramsession 18 hours ago | |
Rents in New York are notoriously high. | ||
| ▲ | dbish 14 hours ago | parent | next [-] | |
Yes and they’re still much lower than buying an equivalent place. I’ve looked. Almost twice as much for a mortgage of a similar space for what I rent right now after putting 20% down. Only reason it makes sense to buy is if you really plan to keep the place for decades. | ||
| ▲ | const_cast 17 hours ago | parent | prev [-] | |
That's because real estate is notoriously high. Also, if you're buying in NYC you WILL get recurring and increasing monthly costs. That $800/month HOA? Yeah, it's not gonna be $800 in 5 years. Buying is not the same everywhere. | ||