Renting is a lot less than owning these days. I would only buy if you're looking to customize the unit to your liking and live in it for 5+ years. Buying for investment (to rent or flip) is probably not a good move until things turn around. That can take a while.
cool thx alex... ya I should have been clearer. I want to rent in a building that I would consider owning in (at least a year from now now - hoping to see a bottom on the market by then)... but then at least I would have a good idea of the pros and cons after renting there before making the decision to buy... I will check these out.
ok will do for sure. keep me posted if you hear of any amazing lofts come up for rent in the mean time. I am living with a friend at biscayne at the moment but intend of having my stuff shipped in from chicago at some point.
Yeah, I'm in the same boat and think the market will be it's worst (or best for buyers) in about a year. Tons of places are still being built, check out all the cranes! I'm currently in a lease-to-own on South Beach with all the rent deducted from the price if I were to buy after a year. Over the past 6 months, it's already dropped below that reduced price AND I've had to move out of the first unit because of plumbing issues. So I'm 99% sure I'm not going to buy the unit.