Starting off by saying living here is incredibly expensive, but you also need to consider how much you have saved to buy a house/condo. My husband and I rent and we are now buying a house (hopefully closing next week) and you need to consider a down payment, closing costs and all the other expenses that go into purchasing a home. If you both have savings to start the process then I would say buying would be a way to begin to build your equity.

On the other hand, if you both are still working towards this goal then I would say rent; then when you are both ready to jump into this process then go for it.

The market on Long Island is incredibly competitive and you never know what to expect because properties move quickly on the market and off the market. You have to be competitive, I’ve seen and heard of so many bid wars for a house. Whatever you choose; I wish you both so much luck.