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Renting vs. Owning Condo in Texas?


It seems the real estate market in Texas has been one of the few regions in the US that has been steady. I have recently moved to Dallas and am trying to figure out whether it is better to buy or rent. I am 30 and single, so I was thinking of purchasing in the uptown area which is only a mile from the office. If I were to rent, it would range anywhere from $850-$1300 a month. I found a couple of updated condos I really liked for around $200,000. Both condos are 2/2 whereas the apt. would only be 1 bed, 1 bath. I figured a condo would be good for me the next few years and if I marry and start a family I could eventually buy a house. What do you guys think is better over a 5 yr period, rent or buy? The taxes are approx. $4000/yr and insurance would probably be $1500/yr. The condo dues are about $250/month. After comparing figures and accounting for tax advantages, I think buying is the way to go. Thoughts?

wour best bet would be to buy a HOUSE. I know you don't want to worry about the yard - but buy something with little yard maintenance - and/or get a yard guy - house resell is better than condo - and you're only looking at 5 years. Your house will appreciate more that the condo will in 5 years.

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