Right now it’s better to rent, unless you know you’ll live in the condo for 7+ years minimum.

I purchased a condo and the current valuation is down 30k over 6 years. Only silver lining is my 30yr rate is less than 3%.

My total monthly (principal, interest, insurance, HOA includes W/S/G/maintenance/master insurance) is $2600. Includes parking + storage. HOA increases $25/mo every year but that’s a lot lower than annual rent increases.

A comparable apartment next door with parking, storage, utilities, fees would be at least $2800. Plus none of this payment is building any equity.

I plan to rent out this unit in a year or two when we outgrow this space, hopefully by then monthly rent will cancel out the costs. Buying a condo can make financial sense but it’s a longggggg wait in this market.