To Buy or Not to Buy - 7 Reasons You Should NOT Buy in today’s market and 4 Reasons You Should
October 10th, 2008 Categories: Silver Spring Real Estate
You Should NOT buy if you . . . .
- Believe that home prices always go up.
- Don’t have emotional tolerance for market declines.
- Know that the interest rates will continue to significantly decline.
- View the house primarily as an investment, rather then a place to live.
- Don’t have a substantial (20%) down payment and excellent credit scores.
- Can’t afford all monthly costs, associated with home ownership.
- Are not certain if you can stay in the house for at least 5 years.
You should buy if . . . . .
- You want a nice tax break/deduction when April 15th comes along every year.
- You want a nice place to live that you can call your own. Stability is important to you because of schools, commute or other reasons.
- You know that home prices have declined in many neighborhoods, and you could pay less now for the same house you had your eye on several years ago.
- The interest rates are low, but could increase.
