Rent vs Buy in Bay Area?Hello! I'm currently starting to consider a home / condo purchase.The stats:Age: 29Current Rent + Utilities: $700 / month (one room in 3br/2ba)Current Income: $100k / yrTotal Savings: $175k (mix of taxable stock account, 401k, roth ira, etc, little liquid)My goal is to move into a 1br or 2br with my boyfriend in the next year. His stats:Age: 30Yearly Income: $0 (looking for job that pays >$50k/yr)Current Rent: $0 (lives with parents)Total Savings: $0I'd like to better understand the benefit, if there is any, of purchasing a house/condo. Every time I do the math, it seems to make more sense to rent, but then it always seems to make more sense to rent and clearly there are many benefits to home ownership. I don't think I'm ready to buy a house and deal with taking care of the property, so I'd likely be looking at a condo. However, HOA seem quite expensive on top of a mortgage. It looks like the minimum cost of a condo would be $550k - $650k plus taxes, interest and HOA, vs renting $1.5k - $2k per month.Can someone please tell me why I should consider purchasing versus renting for the foreseeable future?July 28 2012 - San Mateo00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.