You may have heard or read advice that suggests you should wait until next year to buy a home because prices are likely to go even lower than they are now.
That may or may not be true. But even supposing prices do decline further, will it really benefit you to delay your purchase? There are exceptional values available right now in many markets on homes and investment properties. Combine these great values with the low monthly payments provided by extremely low interest rates, and it becomes clear that there’s no real advantage to waiting.
Let’s explore the issue:
- No one knows what’s going to happen with prices – or when. It’s possible these may be the lowest prices ever, and the still-low interest rates will keep your monthly payments affordable.
- Let’s say prices go down in the next year. How long do you plan to be in the home you buy now? Three years? Five years? Ten years or more? Unless you plan to sell next year, it
