05 · Rent vs Buy

When does buying beat renting in NYC?

The honest answer depends on your time horizon. We bake in mansion tax, mortgage recording tax, and the real cost of selling — including the co-op flip tax on the way out.

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Inputs

Property type

Current rent

$/mo

Rent growth

Purchase price

Down payment

Rate

Common charges

Annual property tax

Home appreciation

Investment returnif you rent + invest

Break-even

Buying beats renting after

15+ yrs

Buyer comes out ahead at year —, assuming you'd sell at that point and pay NYC closing costs on the way out.

Year	Buyer net worth	Renter portfolio
1	$189,761	$338,243
3	$282,296	$461,694
5	$382,326	$593,524
7	$490,572	$734,351
10	$670,119	$963,933
15	$1,023,151	$1,401,832

Upfront cash to buy

Includes mansion tax — 1.00% tier · $12,000. Effective rate: 1.00%.

$279,480

Monthly P&I

$6,147

Carry + tax

$1,517

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