Should I buy or rent? New graduate student at UCSD

[OC Burns]

It’s always a great time to buy. Housing only goes up in value so you really can’t lose. Besides, if you don’t buy while you can, there is a good chance you’ll get priced out of the market forever.

Love,
2005

[nostradamus]

What about grad student housing? I know people at UCSD who live (as a couple) right on campus in a 2br and pay $600. So instead of $80k you’re paying $36k. I know there’s a waiting list but have you looked into it? If you can’t get in this year get on the list for next year… It will save you a bundle.

[nostradamus]

What about grad student housing? I know people at UCSD who live (as a couple) right on campus in a 2br and pay $600. So instead of $80k you’re paying $36k. I know there’s a waiting list but have you looked into it? If you can’t get in this year get on the list for next year… It will save you a bundle.

[nostradamus]

What about grad student housing? I know people at UCSD who live (as a couple) right on campus in a 2br and pay $600. So instead of $80k you’re paying $36k. I know there’s a waiting list but have you looked into it? If you can’t get in this year get on the list for next year… It will save you a bundle.

[nostradamus]

What about grad student housing? I know people at UCSD who live (as a couple) right on campus in a 2br and pay $600. So instead of $80k you’re paying $36k. I know there’s a waiting list but have you looked into it? If you can’t get in this year get on the list for next year… It will save you a bundle.

[nostradamus]

What about grad student housing? I know people at UCSD who live (as a couple) right on campus in a 2br and pay $600. So instead of $80k you’re paying $36k. I know there’s a waiting list but have you looked into it? If you can’t get in this year get on the list for next year… It will save you a bundle.

[SmellsFeeshy]

What area are you looking at buying in? Since you’re going to be going to UCSD, I would assume you’d be looking for a condo in UTC. Not sure how much shopping around you’ve done but for $200k you aren’t going to be able to buy much. Only recently have condos in UTC broken the $200k mark and then you’re looking at a ~600 sqft 1 bedroom condo conversion. I’d rent for a few years and then worry about buying when you graduate.

[SmellsFeeshy]

What area are you looking at buying in? Since you’re going to be going to UCSD, I would assume you’d be looking for a condo in UTC. Not sure how much shopping around you’ve done but for $200k you aren’t going to be able to buy much. Only recently have condos in UTC broken the $200k mark and then you’re looking at a ~600 sqft 1 bedroom condo conversion. I’d rent for a few years and then worry about buying when you graduate.

[SmellsFeeshy]

What area are you looking at buying in? Since you’re going to be going to UCSD, I would assume you’d be looking for a condo in UTC. Not sure how much shopping around you’ve done but for $200k you aren’t going to be able to buy much. Only recently have condos in UTC broken the $200k mark and then you’re looking at a ~600 sqft 1 bedroom condo conversion. I’d rent for a few years and then worry about buying when you graduate.

[SmellsFeeshy]

What area are you looking at buying in? Since you’re going to be going to UCSD, I would assume you’d be looking for a condo in UTC. Not sure how much shopping around you’ve done but for $200k you aren’t going to be able to buy much. Only recently have condos in UTC broken the $200k mark and then you’re looking at a ~600 sqft 1 bedroom condo conversion. I’d rent for a few years and then worry about buying when you graduate.

[SmellsFeeshy]

What area are you looking at buying in? Since you’re going to be going to UCSD, I would assume you’d be looking for a condo in UTC. Not sure how much shopping around you’ve done but for $200k you aren’t going to be able to buy much. Only recently have condos in UTC broken the $200k mark and then you’re looking at a ~600 sqft 1 bedroom condo conversion. I’d rent for a few years and then worry about buying when you graduate.

[noone]

You need to compare the cost of purchasing vs. the cost of renting. If you buy now, no one can really say what you will be able to sell it for in 5 years. But for the sake of argument, let’s say you sell for the same $200k.

Since you will be buying outright, you won’t be paying interest, but you will need to pay for the following at least:

HOA: $5k ($80/month)
Homeowners Insurance: $2k ($400/year)
Property Taxes: $9k (assuming 20% tax bracket)
Maintenance (plumbing, electrical, appliances, carpeting, etc.): $5k ($1k/year)
Commission when you sell: $12k (6% selling at $200k)

Plus you lose out on any interest income that $200k could be earning if invested elsewhere: $45k (4%/year compound)

Total cost of ownership $78k

Compared to the $80k in rent you estimated, it’s pretty much a wash

[noone]

You need to compare the cost of purchasing vs. the cost of renting. If you buy now, no one can really say what you will be able to sell it for in 5 years. But for the sake of argument, let’s say you sell for the same $200k.

Since you will be buying outright, you won’t be paying interest, but you will need to pay for the following at least:

HOA: $5k ($80/month)
Homeowners Insurance: $2k ($400/year)
Property Taxes: $9k (assuming 20% tax bracket)
Maintenance (plumbing, electrical, appliances, carpeting, etc.): $5k ($1k/year)
Commission when you sell: $12k (6% selling at $200k)

Plus you lose out on any interest income that $200k could be earning if invested elsewhere: $45k (4%/year compound)

Total cost of ownership $78k

Compared to the $80k in rent you estimated, it’s pretty much a wash

[noone]

You need to compare the cost of purchasing vs. the cost of renting. If you buy now, no one can really say what you will be able to sell it for in 5 years. But for the sake of argument, let’s say you sell for the same $200k.

Since you will be buying outright, you won’t be paying interest, but you will need to pay for the following at least:

HOA: $5k ($80/month)
Homeowners Insurance: $2k ($400/year)
Property Taxes: $9k (assuming 20% tax bracket)
Maintenance (plumbing, electrical, appliances, carpeting, etc.): $5k ($1k/year)
Commission when you sell: $12k (6% selling at $200k)

Plus you lose out on any interest income that $200k could be earning if invested elsewhere: $45k (4%/year compound)

Total cost of ownership $78k

Compared to the $80k in rent you estimated, it’s pretty much a wash

[noone]

You need to compare the cost of purchasing vs. the cost of renting. If you buy now, no one can really say what you will be able to sell it for in 5 years. But for the sake of argument, let’s say you sell for the same $200k.

Since you will be buying outright, you won’t be paying interest, but you will need to pay for the following at least:

HOA: $5k ($80/month)
Homeowners Insurance: $2k ($400/year)
Property Taxes: $9k (assuming 20% tax bracket)
Maintenance (plumbing, electrical, appliances, carpeting, etc.): $5k ($1k/year)
Commission when you sell: $12k (6% selling at $200k)

Plus you lose out on any interest income that $200k could be earning if invested elsewhere: $45k (4%/year compound)

Total cost of ownership $78k

Compared to the $80k in rent you estimated, it’s pretty much a wash

[Author]

Posts