I had several financial advisors tell me to stay put renting because the location I'm in (Manhattan) has gotten so expensive and I'm in a stabilized apartment. Therefore they instructed me that remaining a renter and investing the difference (even in income property) would be a smart move, given that I want to remain in close proximity to my current location.
Originally Posted by mhd
As it stands, I pay 1/3 the market value of my apartment but my income is on par with the current market, hence, my expenses are low and my investments (and lifestyle) can be substantially higher. I can also take a financial hit (lose a job, etc.) and still know that I can afford to stay where I am.
"MAY YOU LIVE AS LONG AS YOU WANT, BUT NEVER WANT AS LONG AS YOU LIVE. MAY YOU LIVE TO BE 100, & ME 100 BUT MINUS A DAY, SO THAT I'LL KNOW THAT NICE PEOPLE LIKE YOU, HAVE PASSED MY WAY. AND REMEMBER, WHEN FRANKIE CROCKER ISN'T ON YOUR RADIO, YOUR RADIO JUST ISN'T REALLY ON."