Eyeing to buy a condo in 500k range on Mercer island. Hoping to live ~5 years before upgrading to SFH. Later will sell/rent out the condo depending on situation. (Currently in no situation to finance 1m+ House) Plugging in number in NY times rent vs buy suggests that buying is better....No kids or plans for next 3 years. What are some of the arguments for keep renting instead of buying ? My draw for mercer island is proximity to Seattle and east side and safe neighborhood. Condos I am looking at are all near highway..so hoping for not so bad commute to SLU if needed.. What are the drawbacks? Are there any other areas that trump mercer island for my plans ? Am I missing anything ? Household TC : 300k Networth: 200k #housing #mortgage
Mercer Island is where old wealthy white folks go to die.
Moved to Mercer and just love it. We are not far (driving distance) from anything. 15 minutes max to go anywhere. You have a cute small downtown. When the train will be there it will be even better if you love downtown Mercer.
There’s nothing to do on Mercer Island as far as I can tell. If you’re young and like to be social with other young people you’re going to be driving a lot to go hang out. Same argument or even worse if you have a partner who stays home; they’ll be bored out of their mind. Also, condo resale might be hard for the same reason.