[quote=mixxalot]Yeah I am paying now what I was paying 10 years ago in Loma Portal. Actually the place now I am at has a new remodeled kitchen, new carpet, wood floors. I am on the fence whether or not to buy. Yes, I’d like more room and a garage but I’d also have to spend twice as much cash for a place to live over time. So its a risk. What if I ever have to move for a job?
It is funny how coastal San Diego rents are half as much as buying same size place. Never can understand that.[/quote]
If you need to ask folks here whether to rent or buy or to convince you one thing or the other, then I think you should just keep renting…
The math is not hard and if you are in a place that’s comparatively lower than buying and you don’t have kids/family/needs schools/may move, by all means, just rent. Usually, the math and other factors make it such an easy comparison I feel that these debates are pretty meaningless.
All I can say as a data point is all the houses near my hood now are > 4k/month rent in stucco 4S McMansion hood and my mortgage even though I am stuck with a higher rate will soon be close to 2k month without tax calculations/benefits (still have prop tax though).
Most people ran numbers and bought years ago and are sitting on 200k+ equity gains now…I think we’re over 50% equity already personally.
Also, with renting, I just heard a family friend is now forced to MOVE which is a nightmare to have to deal with if you are busy with other things in your life. Moving as a single guy in a 1 bedroom is nothing compared to moving a 4k sqft house with a family.
That and renting has gone up in nearly all the areas I watch. Maybe not yours, but certainly up > 33% here (3k -> 4k).
