Many companies featured on Money advertise with us. Opinions are our own, but compensation and
in-depth research determine where and how companies may appear. Learn more about how we make money.

By Kate Santichen
October 30, 2015

Ryan Serhant, one of the brokers on Bravo’s Million Dollar Listing New York, prefers owning to buying…maybe because of his profession, maybe not. But the most important thing, he says, is to live within your means and don’t try to buy something you can’t realistically afford.

“Look at what you would need to spend to rent the apartment you want to buy, and how does it even out with your monthly payment if you were to buy it,” says Serhant. “If it’s plus or minus 10 to 15%,” he says, “you should purchase.”

Read Next: Should We Buy a Home Now Or Keep Renting?