TO BUY or NOT TO BUY A HOME
Thursday, January 21, 2010
That is the question that many people are asking these days. Maybe if I wait the prices will go down some more. Maybe they will; no one knows for sure. But better questions to ask are – do I need a home; can I afford a home; would I really rather own than pay rent to a landlord, etc. If the answer to these questions is yes, then my answer is by all means buy.
Whether prices go lower, or not, is impossible to predict with any accuracy, but what you do know right now is that interest rates are the lowest they have been in a generation and the only place for them to go is up. By the end of the year, home loan rates will definitely be higher than now, I am sure. They already are up slightly.
There are many good housing buys out there in the market place and as we get closer to spring, the number will increase. My suggestion if you said yes to the questions above is that you get yourself “lender approved”, locate a real estate agent that you feel comfortable with and start looking for your home now. Whether the real estate market or the stock market, only a very few people hit the very top, or very bottom of a market cycle, so my advise is to look at all the compelling reasons for you to own a home, and if they outway the reasons not to, then jump in the water and begin the task of finding that special property that says “home” to you. I think you will be glad you did.
What do you think?
