Buy or rent in Pittsburgh
New grad in Pittsburgh making 165 TC, I live minimally so almost all that will be saved. Apartments and houses are crazy cheap here (200k for a nice one), and with the amount of tech moving I think prices will go up. Rent is about 1k a month. I think I will be here for 4 years. Is it worth it to try to buy a place as an investment? Or should I rent a place for 1k a month and dump the rest in investments? Don't really have any life goals yet... Maybe buy a house or retire?
That’s a great salary for Pittsburgh. I would rent, live like a poor person, get a financial planner, and invest as much as humanly possible. I wish I were in your place again so I could follow the same strategy. You’re going to be retired by the time you’re 35 that way. Selling and buying fees takes to much out of real estate investing. I would wait to buy until you are married/putting down roots. The other option would be to keep each house you buy as you upgrade to another and rent out your old ones. But only do that if you’re willing to be a landlord with all the work that entails. If you’re handy, that can be a great investment.
BUY
That TC is great for pgh. I would probably buy if it were me.
I would buy. In case you move, you could use this as a rental property. Pittsburgh is a great real estate market.
If mortgage is less than rent, buy. Simple
Just make sure to include closing costs and realtor fees (both when you buy and when you eventually sell) in that calculation.
I like Pittsburgh growth and would buy an investment property there if I lived closer. I would buy - and if your life plan takes you away from Pittsburgh- make sure it is a rentable place so you start getting income from it when you are done with it
Buy MFR near schools or a SFR with loads of rooms or sq footage to make rooms. Thank me later.
What's mfr sfr
Price to rent ratio looks ridiculous there. Buying is absolutely better in that case.
Did you buy or rent?
Depends on how well the appreciation has been and how well it is going to be. 4 years is not quite a lot to have it appreciated. But if you can’t save money and appreciate in any other way, go for it and buy it to make sure you get a decent investment