Hi-
I live in a HCOL of living area. We are getting kicked out of our rental in September (landlord is moving back in) and so my wife and I are going through the buy vs continuing to rent conversation.
Right now, we are renting a place for $1850/month (including utilities - so probably closer to $1750). Possible for us to probably push that down to $1500 or so a month, though that would be compromising stuff that we would like to have (such as washer/dryer in unit). To get a place comparable to what we have now, would probably cost us around $2100 w/o including utilities (we have a really good deal at the moment).
We are currently looking at a couple of neighborhoods where we could find a place for between 275-350, with us hopefully landing in the 325k range, and we would put 20% down. Our PITI would be around 1700-2100. We currently have no plans to move from our current area, and we are planning on starting a family this year (Lord willing.)
Would the smart folks of this board buy in this situation? Need more information?
