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Updated almost 7 years ago on . Most recent reply

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64
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9
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Tom Smith
  • Sacramento, CA
9
Votes |
64
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Rent first in new city or Buy a cheap condo to start house hack?

Tom Smith
  • Sacramento, CA
Posted

Anyone know whether it is better to rent in a new city first or buy a cheap condo (under $85k) to house hack? This is my first time buying a condo/home and first time house hacking. I have the money to purchase the condo in cash. HOA fees are around $375/mo so this would be less than if I were to rent at around $500-$750/month. I would also have 1-2 bed rooms to be able to start renting out if I bought the condo. Should I still rent first in the area for 1-2 months or longer before I buy anything?

Most Popular Reply

User Stats

259
Posts
293
Votes
Kristina Heimstaedt
  • Real Estate Agent
  • Newport Beach, CA
293
Votes |
259
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Kristina Heimstaedt
  • Real Estate Agent
  • Newport Beach, CA
Replied

@Tom Smith If I were in your shoes, I might rent for 6 months and figure out what I wanted out of my living situation as well as where I'm likely to get the best value. I would see it as a way to protect yourself from not getting the greatest value.

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