Buying a condo in NYC

I’ve been renting in Manhattan for a few months now, paying $3850 in rent per month. I can afford rent while living comfortably and saving for the future, but I can’t help but feel like renting is a bit… well, wasteful.

I am considering purchasing a small condo in UWS or UES next year when my current lease is up. The thing is, I don’t plan to live in NYC longer than 5 years, at which point I would have to sell or find a renter. I’m wondering if it would be worthwhile to continue to rent in Manhattan for the next 3-5 years or purchase a home next year.

Any thoughts would help! Thanks!