here's the scenario: in your current financial situation you have the opportunity to buy an apt. it's in a building centrally located in your city, right in the middle of the jewish area. 2BR, 2bath, LR, DR and eat-in ktchen. it's on the 5th floor and there is an elevator (possibly runs on shabbos). cost is $100K and is in ok condition - not new but not run down.
do you buy it as an investment?
do you move in if you know you're going to need a bigger place eventually?
do you buy just to have a place to call your "own" or wait until you can afford something else?

(if you currently own, say what you would do if you were still renting)

Obviously this question pertains to you specifically and therefore should take into account all the relevant factors as they apply in your life. How do you expect anyone else to know what you should do, unless you perhaps give us the full details of your life, including your finances? It's like when people ask me what they should have for lunch. How they heck am I supposed to know what THEY want??? I have enough trouble deciding what I should have for lunch myself.

I would most likely not buy it as an investment.
If you think the property can at least maintain it's current value by the time you wish to sell, weight the amount of interest you will be paying each month + the oportunity value of the principle you are paying (ie: whatever interest you could earn with that money) vs the amount you are currently paying in rent.
I would not buy something just for the sake of owning. Now is definitely not the time to be playing games with the real estate market.

ETA: Like the above poster said, there are too many variables for us to make an opinion based on your original post.

the price sounds good for brooklyn jewish areas, that much i can tell you

your place sounds like a great location (center of town and in the jewish area). you'll definitely be able to live there for some time, correct? and if you move on to the better thing after that, given the location and demand for housing, you'll probably be able to profit from selling it, or rent it out. i think. but i know nothing about this real estate/financial business.

if you have the money available, why not?

it's a hypothetical for you to chew on.


to answer my own thread: i wouldn't move in somewhere if i knew i would have to move again shortly due to space. i also don't see the point in investing in an apt (unless that was the norm like in israel or NYC).

I thought buying an apartment was an Israel thing. In the U.S. it's usually a condo type of situation where you buy the condo + pay a monthly condo fee.

The price sounds good, considering my neighborhood's prices... but I would not want to touch real estate in this market.

and 5th floor- ouch.

(the original post had 10th floor, changed due to obvious reasons)

So do you live in your car? How can enter your place of dwelling without touching real estate? Do you float around?

don't know about other cities, but co-ops are popular in NYC (ok, maybe not for fast growing frum families, cause there are only these many bedroom apartments available)

Wall- to wall carpeting.

Actually, wall-to-wall carpeting is considered real estate. Had you said "area rugs", okay.

Ok you caught me. The truth is every motzi shabbos I log onto realtor.com and remaxny check out all the cute kitchens in the surrounding 3 zip codes.