willing to buy @ 120-150 GRM which would make it $240k-$300k townhouse.
About the same GRM for rent-saving. Much lower GRM for investment. All depending on interest rates, which are looking up up up. Particularly for any kind of documentation gap.
Currently, in Irvine in the OC, you can readily rent a $600K plus ‘home’ for $2400. After taxes, assuming 5% annual rent increases, if home prices just stay flat, after five years, I’ve saved 1/3rd by renting, $100K+. If you look outside of Irvine in the OC, the numbers are actually more in favor of renting as rents are lower by a larger amount than home prices are lower.
