Gothamist answers this question:
My parents are always bugging me about renting an apartment in New York City, saying I am throwing money out the window by renting and that I should buy a place[...] They’ve offered to help me with a down payment, but is it really a good idea?
Janine Papp answers the question and takes a Wall Street Journal article into account. She goes as far as to suggest that people should wait until they have the money for the down payment rather than accept help from others. I wouldn’t mind hearing readers’ opinions on that topic.
Updated February 6, 2012 and originally published March 30, 2005. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @flexo on Twitter and visit our Facebook page for more updates.