I’m 26, make $300K a year and have saved over $275K. Should I buy an apartment — or just keep renting?

I'm 26, make 0K a year and have saved over 5K. Should I buy an apartment --- or just keep renting?

I’m a single 26-year-old who’s been renting in downtown Atlanta for almost 5 years and want to buy my first home. My lease only allows me to enter the market once a year. If I find a deal, should I break my lease, or wait and see what’s available? What should I be focusing on to determine what I can afford? 

I’ve been wanting to buy an apartment in the city for several years now, and I finally feel as though I am ready to make that a reality, if it weren’t for this crazy market and ($$*&*) lease. The real estate market in Atlanta is sky-high right now, with what were $250,000 to $300,000 apartments in the city now going for $500,000 to $600,000. Because of the market, I made the difficult decision to delay my original plans to buy an apartment at the end of my lease in January, extending my lease another 13 months…

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