Rent vs Buy in New York : Questions & Answers

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Gail Gladsto…, Real Estate Pro in 11743
Gail Gladstone answered:
For generations, we've aspired to be home owners. Evidence shows we'd be better off renting – both individually & as a nation....
I rented until 1995 when I purchased my first home (I am 67). To me, it is like a bank account.

When I rented, I paid the landlord's mortgage. Now I pay my own and will be reimburs ... more
0 votes Share Flag Sat May 4, 2013 Rent vs Buy in Brooklyn
Alison Hillm…, Other/Just Looking in San Francisco, CA
Alison Hillman answered:
Are there any of these homes in Albion that will allow rent with the option!!!!?
You can contact the listing agent who will be able to help you learn more about that specific property (and probably will know a lot about similar properties in the area). To find an ag ... more
0 votes Share Flag Thu May 16, 2013 Rent vs Buy in Albion
Jenet Levy, Real Estate Pro in 10012
Jenet Levy answered:
WHAT AREAS ARE THE BEST PLACES TO INVEST IN NYC AT THIS TIME? 1 BR/1 BA WHAT WILL BE MY POSITIVE CASH FLOW IF ANY?
In my opinion, the best values right now are on the Upper East Side and in the Financial District. As you may know, we are trending up, and most neighborhoods right now have very little ... more
0 votes Share Flag Mon May 27, 2013 Rent vs Buy in New York
Yul Park, Real Estate Pro in New York, NY
Yul Park answered:
Does anyone have any sound advice as to whether renting or buying in Harlem would be best? I make about 60K a year and have 20K in savings.
Hello Simone,

I've done some work lately in Harlem and areas further north. There are many factors to consider. If you're interested please contact me directly and we can discuss you ... more
0 votes Share Flag Mon May 27, 2013 Rent vs Buy in New York
Jacques Ambr…, Real Estate Pro in 11375
Jacques Ambron, CRB CBR SFR answered:
In New York City when does it make sense to choose a two year lease for a rent stabilized apartment?
If you are planning to remain in the apartment for any length of time, you are probably better better off with a 2 year lease. Otherwise you will be subject to 2 increases as opposed t ... more
0 votes Share Flag Mon Feb 25, 2013 Rent vs Buy in Brooklyn
Jenet Levy, Real Estate Pro in 10012
Jenet Levy answered:
If I were to buy and rent a condo would that be a good idea in NYC i Will this be a good time?
Mddoc27,
Yes, it is definitely a good idea as well as a great time to buy and rent out a condo in NYC. Our market has been trending up and inventory is tight, which will only cause pr ... more
0 votes Share Flag Fri Mar 8, 2013 Rent vs Buy in New York
Elena Ravich…, Real Estate Pro in 10019
Elena Ravich Manhattan Expert answered:
I want to invite a real estate agent and a lawyer to our next tenant association meeting because we want to discuss the possibility of converting our
I would be happy to participate and explain the benefits and how things work. Can also ask a very good and experienced coop attorney to come with me, as well
Elena Ravich
Rakita Real ... more
0 votes Share Flag Thu Jan 31, 2013 Rent vs Buy in New York
Keith Jean P…, Real Estate Pro in East Brunswick, NJ
Keith Jean Pierre answered:
Looking for advice on home buying or renting a house
In your specific situation I would suggest renting as the logical option for you. Main factor is the duration of your stay. If you end up purchasing a home and then need to sell in 2 or ... more
0 votes Share Flag Sun Dec 23, 2012 Rent vs Buy in Dryden
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
Would it be more economically practical to rent a home for 2-3 years or buy and sell?
Depends; it’s all about costs and lifestyle. Costs—financing v. moving-in, mortgage v. rent, repairs v. upkeep. Lifestyle—stability v. mobility, predictability v. f ... more
0 votes Share Flag Sat Jul 13, 2013 Rent vs Buy in Dryden
Robert A. Ra…, Real Estate Pro in New York
Robert A. Rabuttinio answered:
In our mobile society today, is it better to rent or to buy?
In my opinion it is always better to own than rent!
0 votes Share Flag Wed Nov 7, 2012 Rent vs Buy in 13601
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
Rent to Own apartment
Rent to own apartments in the area are rare; keep in mind that if interested in co-ops, each board does have their own financial requirements that must be met in order to be approved. A ... more
0 votes Share Flag Wed Sep 26, 2012 Rent vs Buy in Queens
Mitchell Fel…, Real Estate Pro in 11229
Mitchell Feldman answered:
Buy or Rent in Prospect Heights?
Dear Melindagar:

If you purchase a property with less than 20% down you will have to get private mortgage insurance. This can be quite costly so keep that in mind. Your best bet is t ... more
0 votes Share Flag Sun Sep 30, 2012 Rent vs Buy in Prospect Heights
First Last, Other/Just Looking in 90002
First Last answered:
Co-op vs renting in Kensington, Brooklyn NY.
The bank does not have to agree to the short sale, so you may not get this property at all. I certainly hope you have an attorney working for you? If so, definitely get their advice. Fi ... more
0 votes Share Flag Tue Aug 28, 2012 Rent vs Buy in Brooklyn
Jeannette Ba…, Real Estate Pro in Brooklyn, NY
Jeannette Batsikas answered:
CAN SOMEONE PLEASE EXPLAIN THE RENT TO OWN PROGRAMS? ARE THEY ALL SCAMS? WHAT IS THE NORMAL DOWN PAYMENT? ANY INFO WILL DO THANK YOU?
Basically it means that you pay rent but if you decide to buy at the end of your term the remaining rents that you paid through the term agreement gets deducted from the price. A normal ... more
0 votes Share Flag Mon Dec 30, 2013 Rent vs Buy in Queens
Eric Carino, Real Estate Pro in Brooklyn, NY
Eric Carino answered:
Help me, Maybe??
Hey Gary,

I have a two bedroom, two bath with a gym, pool and common roof deck for $5040 per month. Two months free and no fee. Feel free to give me a call @ 646.236.4818

Thanks,
... more
0 votes Share Flag Mon Jul 23, 2012 Rent vs Buy in Williamsburg
Jacques Ambr…, Real Estate Pro in 11375
Jacques Ambron, CRB CBR SFR answered:
Can anyone please tell me about "rent to own" homes and it's pros and cons?
Pros are that you can get your foot in the door to purchase in the future. Hopefully you will set a price, and the market will have gone up. In some cases some of the rent might be ap ... more
0 votes Share Flag Wed Jul 25, 2012 Rent vs Buy in Bronx
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
Graduate student in Long Island - Rent vs. Buy in NYC?
To rent or buy is a decision only you can make; It’s all about costs and lifestyle. Costs—financing v. moving-in, mortgage v. rent, repairs v. upkeep. Lifestyle—sta ... more
0 votes Share Flag Fri Jun 29, 2012 Rent vs Buy in Astoria
Tom Gildea, Real Estate Pro in Orange County, NY
Tom Gildea answered:
is quicken loans the best way to go?
Google "Quicken + complaints".
0 votes Share Flag Sun Jun 17, 2012 Rent vs Buy in Pine Island
Christopher…, Real Estate Pro in 10591
Christopher Pagli - ABR, GREEN answered:
Looking for a 2-3 bedroom apartment or house in Peekskill or Ossining.
Hi, if you aren't working with an agent I would love the opportunity to sit down and discuss your needs. Please feel free to message me if interested. My office is is Tarrytown a ... more
0 votes Share Flag Thu Aug 2, 2012 Rent vs Buy in 10566
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