The best thing you can do right now is get out and take a look at what is available in the market. Inventory is low right now so your "dream condo" may not even be on the market right now. But having patience and working with a good agent who knows the market could lead to you finding the perfect place in the near future!
Best of luck!
Purchasing does not allow for a quick move, yet offers many benefits. That is being able to do with your place as you wish and having some tax write offs plus the added benefit of long term equity growth in value. I would like to bring up the added cost that will go with home ownership which includes property taxes and home owners insurance. When looking into the Pearl District you will have the added cost of HOA dues which go to the buildings up keep and taxes so please ask your agent about any and all cost.
We are currently in a landlords market when it comes to rentals around the Portland metro area with the Pearl being one of the hotter rental markets. So I would start by saying to sit down with a lender and see what you can qualify for on the purchase side as this can help answer your question. Then meet with a good Realtor that knows the Pearl area and can advise as to what your purchasing dollar will be able get you.
Please feel free to contact me with any questions.
Bob Hoerner 503.939.9220
Janeese Jackson, Principal Broker
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That being said, I have friends who rent in the Pearl because it is the lifestyle that they love but they can't afford to purchase there.