Rent vs. buying a condo?

Asked by Hoyma, Brighton, MA Fri Jul 6, 2012

If you have the money to invest in lower quality [around 100 K] 1 bedroom condo in WeHo, would it make more sense to rent or buy? I am 22 years old

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sdrftughbjn, Agent, Beverly Hills, CA
Tue Aug 7, 2012
My honest opinion would be to continue saving and wait.

I wouldn't suggest putting all your money into a $100,000 condo at the same time as taking on debt for a condo that, if in West Hollywood, will be in a subpar building and won't really be all that desirable to many people. I would advise you to find a modest place to rent and continue to save your money to put into a better condo in a few years time.

You are still very young and have done extremely well to be in the position you are, but think what two years, a steady job and wise saving could do for you. A good first time buy condo, in a desirable location, in a quality building you ideally want to be looking in the $200,000 range.

Check out my website and check out a stunning, fully updated unit in a great part of LA that just hit the market today for $205,000. These are the sorts of units you can get if you continue saving for a little longer.

If you have any other questions or concerns please do not hesitate to email me at I also have a profile on Trulia that includes some of my previous blog posts, recommendations etc.

Best of luck,

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Kieran Jacks…, Agent, West Hollywood, CA
Sun Jul 8, 2012
Good luck finding a 1 bedroom condo in WeHo for $100k! I just shown a studio space for that price in a condo development. Not saying it's impossible, but they are few and far between.

In my opinion, buying is better than renting, 99% of the time!

All the best,
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Jason Harmon, Agent, Beverly Hills, CA
Fri Jul 6, 2012
Buying would be a smart move. When you grow out of it, you will be able to keep it as an investment unit and rent it out, or sell it. To view all the condos available for sale or for lease in West Hollywood "and beyond" visit our website at -…

My team, The Top L.A. Realtor Group, are condo specialists located in West Hollywood on the Sunset Strip. If you have any questions give us a call at (310) 623-0289
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Endre Barath, Agent, Beverly Hills, CA
Fri Jul 6, 2012
Hoyama, I just notice you are from Brigton MA, I used to live in the South End of Boston:))
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Endre Barath, Agent, Beverly Hills, CA
Fri Jul 6, 2012
Great question, how long are you planning on living here? If it is more than 3 years in makes perfect financial move.

Should you have any other questions feel free to reach out to me directly at

Endre Barath,Jr.
Prudential California Security
Beverly Hills, CA

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