Buying 1BR apartment all cash? I live in NYC, and recently inherited a decent sum of cash after the death of a parent. I know how big of a privilege this is, but I’m considering buying a one bedroom condo apartment all cash (no mortgage) here. My reasoning is this: save money on rent (taxes +maintenance costs would be about/less than a third of what I pay in rent), have a sta…

I live in NYC. Rent is $1550 in our 1br (rent stabilized). Is it correct to assume perpetually renting is the right path? My wife and I both live in NYC (32 and 27). We gross $180k. We started renting our apartment in 2018. Rent then was around $1400. It’s a rent stabilized apartment so our rent only goes up 3% a year. It actually hasn’t gone up since 2021, and we currently pay ~$1550 per month. We put around 30% of our earnings into 401k+RothIRA (pure S&P 500). We…

My living room in a 1BR apartment in a medium sized midwest city. submitted by /u/Peaceminus1one