After getting the news that my building went condo some four months ago, I've been searching for a new place to live. They offered to sell my current unit to me, at a decent price, but it's not the right time for me to buy, both from a financial and lifestyle standpoint. Dad and I chatted over breakfast about this après golf this past weekend. I questioned the actual benefit to my net worth; yes, the house is an asset, but being hundreds of thousands of dollars in debt offsets that in my mind. People seem to view houses nowadays as more of an investment rather than simply fulfilling a basic need, but my guess is that appreciation of the property has more to do with inflation than an actual return on investment. I could probably do better by playing the markets than sinking dollars into real estate, plus it's more liquid. My 401(k) seems to bear that out, at least in the short term.
It's not just about money, though. I'm liking the sense of freedom that renting offers; I don't feel the need to get rooted down to any particular place, I can try on different neighborhoods for size, see how it fits me. Which gets me back to the headline of this post. I've been in Belltown for nearly two years, and while I appreciate the conveniences of being in the middle of the "action," truth is, I didn't take much of an advantage of them while I was here. I'll miss being within stumbling distance of the hottest bars in town, the view of Elliott Bay, the view of the chick in the apartment across the street, and that's about it. I've applied to another building and should find out soon if I'm their type. It's a little more money, but somewhat quieter; there's an Irish pub downstairs and a Whole Foods under construction 3 blocks away (I don't know which is more dangerous).
If all goes as planned, I'll be moving in 2 weeks. I'll keep you all posted.
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