I find that many would be landlords in your poistion take a very bullish stance on rents even if they are bearish in housing. Not your fault, everyone wants what is best to them. Since you didnt post any numbers other than your proposed purchase price, I dont think alot of good responses can be made. What is rent? what is HOA? what is property tax and are there Mello Roo’s? Do you have 20% + 6 months socked away without touching the 401k, stock, or IRA type investments? Did you short sale out of your old house, loose alot, but not be able to swallow the terrible injustice of being a lowly renter? Are you making out the 401k and IRA and other investments as well?
All are important questions and very important to the answer of “is this a good buy.”
I dont know any of the numbers. Can you get a good purchase if you are willing to take the LONG LONG term and are stable in career and income. Yes you can. Is it as easy or simple or obvious as so many would be RE investors who walk into a condo complex, decide to buy and then look to see if it makes sense. No it isnt.
Without any facts or numbers it is hard to say, but caution and market understanding (including the understanding that investing in the stock market in the long run is usually far superior an investment than RE) tell me that most likey, it is better to rent. I can be wrong though.
