Newsflash: (NYC) Buying a Small Studio vs Renting

Hey re,Doing some napkin math given my current savings rate (~%50) while still matching my employer’s 401k and maxing my roth IRA I would be able to come up with the downpayment on a small studio co-op in Tudor City within 3-4 years.I’m fresh out of school (22) and figure if I’m buying at 26 that I will be able to live there at least a solid 7-8 years before looking to upgrade. On the bright side the particular buildings I’ve been looking at seem to allow subletting without restriction (so long as the prospective tenant is approved by the board) immediately after purchase.That being said, I’m currently paying a similar amount to rent downtown and could continue to do so until after kids are in the picture at which point I would prefer to buy a larger place most likely in the outer boroughs. This would allow me to throw more money in my retirement accounts and taxable accounts.Which option seems better? Rent for a few more years while saving for a downpayment, buy a studio to live in for close to a decade and rent it out/sell when I’m looking to upgrade? Or focus on retirement and taxable accounts while i slowly build up a downpayment for a larger place 13+ years down the line? I do have my heart set on New York as all my friends and family are here and the job market is great for my field.



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