NYC Real Estate: Should I rent or buy?

[Vincent Sottile]

I'm currently working in NYC and paying rent. If I could find a 1 bedroom or studio that is affordable, would it be worth it to buy? Or should I just try to find cheaper rent and focus on investing in real estate elsewhere? Ideally, I would use this property to live in for the next few years and eventually turn it into a rental or sell.

I'm wondering if NYC is worth the major capital I'd have to put in.

[Mark Dolan]

Where in NYC would you be looking? Manhattan varies a lot from somewhere like Sunnyside, Queens. It’s funny how normal it is to just pay rent in NYC. Been living here for almost a decade and I don’t know one person who actually owns the place they live.