Reply to Buying A House In This Craziness

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[quote=Anonymous][quote=Anonymous]I get the perspective of if you plan to stay in the home and have job security to move ahead with purchasing. I just don't want to be the person who is kicking herself because she could have gotten the same house for significantly less had she waited. If I wait a year and get my forever home for 40-50k less, I will automatically like the home better. [/quote]

This assumes: you have a job. Your downpayment hasn't taken a hit. And people aren't holding onto their homes instead of listing them (or even really able to list them). That the quality of the homes being listed are ones that you'd like to live in. Mortgage rates are lower in the future (while low they have been increasing quite a bit because of market volatility). Plus 40-50K less doesn't really change your mortgage by that much.

Now of course if house prices drop hundreds of thousands of dollars. Sure. But unlikely to happen.

If you're in a home now or very comfortable renting, yeah sure by all means wait this out. But there are also forces that in a year from now you have no control over and you might not be happy with the outcome. That's why this situation is tricky. It's very unpredictable. [/quote]

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