Is buying a place in the city better than renting a place in the city?
I’ve been trying to decide between buying vs. renting for a long time now, and this question has been on my mind since I first started looking. I had a friend who went to school in NYC and was living in an apartment building owned by her college. She told me about the bad neighbors and the horrible management. So, I did a little research. Here’s what I found.
If you rent a place in NYC, there’s a good chance that it’s going to suck. There will be mold growing on the walls and the air conditioning won’t work.
You’ll be paying a huge amount of money for a room that’s so small that you can’t really fit anything in it. It might be too cold in the winter and too hot in the summer.
You’ll have to deal with a landlord who can be a nightmare. In fact, the majority of landlords are terrible. They make their tenants’ lives miserable. They make it difficult to do maintenance and repairs. They can make life hell for a tenant.
On the other hand, if you buy a place in the city, you’re not going to have to worry about the conditions of the building. It won’t smell like mold and you won’t have to worry about your air conditioner freezing up.
The landlord isn’t going to be a nightmare. If you have a bad landlord, you can usually find a new one. If your landlord does something wrong, you can go to court and get justice.
There’s also the fact that when you buy a place in the city, you’re actually investing in your future. You’re saving money every month that you can use for anything you want.
If you rent, you’ll be stuck with the place you’re in. You can’t just move out if you don’t like it. You can’t sell it or move it. And, there’s no guarantee that your landlord will even be willing to let you out.
You may want to consider buying if you’re planning on moving to NYC in the near future.
You may want to consider buying if you want to save money.
You may want to consider buying if you want to invest in yourself.
You may want to consider buying if you want to be able to control your destiny.
You may want to consider buying if you want to live in the greatest city in the world.
