suburb+car VS downtown prime location rent?

[buliwyf]

I know there are pros and cons for both, but what would be more "comfortable," generally speaking in a financial point of view?

Rent a suburb house/basement (~$900/mo) AND buy a car (~$400/mo)
or
Rent a prime location downtown condo (~$1600/mo)

Your opinions?

 

[steaky]

Some ideas if downtown is where work located:

Downtown condo (Pro):
Walk to work

Suburb (Cons.)
1. Parking is difficult to find in downtown area and could be expensive!
2, Traffic jams / Possibility of late for work

 

[mic8400]

Having this same debate now. I guess it also depends on the city you're moving to. I'm looking at Montreal. I realized that it would probably be better to live as close to downtown as possible for commuting purposes since parking sucks. I'd take the metro virtually everywhere. My wife and I will have 1 car instead of 2, and I'll just get the monthly metro pass (like $75 a month or something similar). It's all about the convenience too. So if you don't mind walking a tad to get to the metro in the winter... then go for it! Way more fun living downtown too =p

 

[CanuckForEver]

This debate holds good only until you're a renter. Practically, if I were you I won't rent life long. After a couple years settling as an immigrant here, the best tactic is always to invest in a home. So the money you throw at rent actually is going to a mortgage that later becomes your equity. Of course, there are always your personal choices. But by and large this happens. Just an info.

 

[mic8400]

I agree 100% with you ^ repped +1