SHOULD I THINK OF BUYING A PLACE NOW OR WAIT ?
We will start the answer to this question with four questions.
1. Are you presently with savings in the bank for a substantial down payment in order to qualify for financing ? 25% to 35%
2. Will your financials hold up to the new standards of the banks lending practices?
3. Will you be able to carry the payments for a period of eighteen months if you lost your job?
4. Are you currently happy in your current job and location?
If you answered Yes to these questions than the answer for you is ABSOLUTELY YES. BUY NOW.
1. The inventory and selection is plentiful to find your dream home without paying the premium required in the past for choice property.
2. Location , location , location. You can now select from areas once out of reach without needing to venture into the up and coming story. Save that time, you can now arrive to the really established area once also out of reach.
3. Choice locations and dream situations maintain their values and most, if not all price corrections should be done.
4. Historically low fixed mortgages are being recorded for 15 year mortgages as low as 3.3 % and 30 year mortgages for 3.9%
5. No need to look for a fixer upper. Most of the inventory was upgraded in the past ten years and you can reap these upgrades without any cost.
6. No rushing required so shop smart and compare .Take the time, to select actual comparable properties before selecting one.
7. Carrying cost will now be correctly adjusted. The tax collectors now assess the property at depreciated values. This also reduces the insurance cost.
8. Why pay rent as rents have increased and are expected to continue up.
9. Start building equity .
Here are some of the reasons we say BUY NOW !!
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