Buy property or keep renting?

Splunk ab62737
Jun 7 27 Comments

I have about $300k liquid and am paying $2400/m in rent. Should I buy property around SF/Oakland or keep renting?

comments

Want to comment? LOG IN or SIGN UP
TOP 27 Comments
  • Wish hfgy$()&
    Rent
    Jun 7 0
  • PayPal
    hoddor

    PayPal

    PRE
    Google
    hoddormore
    Buy
    Jun 7 0
  • Apple / Eng
    miao~~

    Apple Eng

    PRE
    Qualcomm
    miao~~more
    If you are planing to stay in the area for over 5 years it’s good to buy one
    Jun 7 3
    • Facebook public2
      This. Are you single? Can you house hack?
      Jun 7
    • Splunk ab62737
      OP
      I am single. What is house hacking?
      Jun 7
    • Facebook public2
      Buying a house with multiple bedrooms and/or units. Rent the others so that your payment is significantly less to zero. Have fun and pay nothing in housing. Best of both worlds.
      Jun 7
  • Salesforce ncVn88
    Rent, hoard cash for next downturn, then buy.
    Jun 7 10
    • Compass zfHl76
      I’d like to hear I’m sitting on 350k cash right now haha
      Jun 8
    • VMware SweetPease
      Bought in 2004, sold in 2007. 60k profit. Rented. Bought in 2010. 900k profit if sold today.
      Jun 8
    • Compass zfHl76
      What market?
      Jun 8
    • VMware SweetPease
      Isn’t compass a real estate agency?
      Jun 8
    • Google / Eng QrJx75
      Cash meaning savings/checking? Or cash meaning something liquid like stocks?
      Jun 12
  • PayPal
    hoddor

    PayPal

    PRE
    Google
    hoddormore
    Don’t get into this trap of waiting to buy cheap (for your primary residence). Renting is worst decision almost always.
    Jun 7 1
    • Google / Eng QrJx75
      Renting is great option in a sellers market and you know you will move out of the area soon. And that scenario is very common in the Bay Area
      Jun 12
  • Amazon nowlb
    What’s your TC? 2.4k a month isn’t much compared to a mortgage payment.
    Jun 7 4
    • Splunk ab62737
      OP
      $200-250k
      Jun 7
    • Amazon nowlb
      If you think you can afford 4K+ a month in housing costs go for it. But I have around the same TC and it would be tight for me. Depends on your situation (single/married, kids, spending habits).
      Jun 7
    • Cisco raziel_m
      Where does 4k come? I bought. 900k house 2 yrs ago and my mortgage is 3.3k.

      TC 300k. Not big deal
      Jun 7
    • Amazon nowlb
      Insurance, tax, etc. Costs you don’t pay on an apartment.
      Jun 7
  • Nutanix 5Uv4DF
    Rent .. cash is powerful tool.. once right time come, mostly recession, then buy cheap.
    Jun 7 0
  • NetApp l0rD
    Rent/Buy
    Jun 7 0