New Investor in DC: Buy First or Rent
Hello All,
I am currently a graduate student who is moving to DC (from Central Virginia) in June/July. I would like to buy a row home to house hack. I've been doing extensive research on up and coming areas in DC: Trinidad, Deanwood, and Anacostia in particular. This research includes speaking with realtors and locals, reading reports, and identifying commercial development in these areas.
I've had conflicting advice as to buy a house right away or rent an apartment for 6 months-1 year before buying. I personally favor buying first because I can't see myself paying someone's mortgage when I can pay little to nothing to live in a home I own. I would use this home as a start at building my portfolio in this area.
I would love to hear other people's take on buying a house first in DC or waiting until I'm more acclimated with the area.
Thank You,
Candice