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Buddy of mine is living in a one bedroom apartment, paying $900 a month. He just broke up with his girlfriend and is looking for options. The break up was amicable and he said he's going to let her keep the unit so he's going to find a place on his own.
He said the minimum right now is about $2,500/month for something. He asked me if he should just rent or bite the bullet and buy a one-bedroom.
From what I can tell a $500k place would be like $3k in mortgage + strata + maintenance + internet + insurance, etc. So he's probably look at like $4k a month in expenses.
Does it even make sense to buy a place or just find a rental for $2,500. Numberswise renting seems like it's the play, am I missing anything here?
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