Is it a good time to buy a house By Cat201

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Is it a good time to buy a house

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Is it a good tim..

Cat201

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Is it a good time to buy a house?

How often do you hear people say “Now is a good time to buy a house”? I hear that from people every other day. My ValSecret is- anyone who tells you it’s a good time for you to buy a house might be WRONG because they do not know your financial or job situation.

I would advise not to get lured into buying a house when you really might not be financially or emotionally ready for the purchase. Keep in mind that the unemployment rate is expected to increase which may cause an increase in foreclosures. In turn this will increase the supply of homes available which will most likely result in lower home prices.

I’m not discouraging anyone from buying a house because I still believe that home ownership is very rewarding and it is a good way to build your credit! Also, the low interest rates and in some cases a credit for first time home buyers can be a great incentive to buy.

My point is that you shouldn’t feel pressure to buy a house because of external influences look at the whole picture and figure out what is right for you.

real estate buy house

Topic:

Finance

Comments

SilviaT

997 Days Ago

Cat, you are absolutely right! Also, sometimes you don't know where your job is taking you or where exactly you want to move to, so it's better to rent until you know for sure where you stand with your job, and where you will like to live, for buying a house is a long term commitment and you don't want to get stuck in a neighborhood that you are not really crazy about, just because the house was a great deal! right? :-)

Cat201

999 Days Ago

Thanks HMarino!! I just read an article today on yahoo finance that data shows that the housing market may be stabilizing later than expected. http://finance.yahoo.com/news/Disappointing-housing-data-apf-15289731.html?sec=topStories&pos=main&asset=&ccode=

HMarino

1000 Days Ago

Great secret Cat. Buying a house is a huge investment (not to mention the money that you must provide to fix, decorate, and maintain one). Just because this is a quote/unquote Buyers Market, the decision to buy must be made once all benefits and risks are weighed.

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