My office is in Lafayette and I am familiar with properties in all of Lamorinda.
It's a very competitive market and having a local realtor is an advantage. Please contact me if interested in pursuing the area. It had much to offer including excellent schools.
Suzanne Looker... more
Hi Ray, I use a really great rent vs buy calculator from the New York times at http://www.nytimes.com/interactive/business/buy-rent-calculator.html. It is interactive and has lots of variables so you can keep it simple or add a lot of information. Putting in your scenario, the calculator came out as better to rent if planning on staying for 6 years. There are many factors to consider though, for instance, do you think home prices will increase (decrease) and at what rate? Do you think rents will increase(decrease) and at what rate? What is the value of the home you are living in now? Are you able to buy the same house at your $3500 PITI? Take a look at the calculator and feel free to contact me if you would like to talk about the macro economic situation on home prices and what is specifically happening in Lafayette or if you want a value of your rental. Hope this helps! Sincerely, Ann Sullivan Realtor, MBA... more