Posted: 19 Oct 2011 04:00 AM PDT
If you are in the market to buy a home of your own, you need to ask yourself one question: WHY?
It seems like a simple enough question yet it is not. Experts are predicting that, in many markets, prices will continue to soften (see our blog from yesterday). That has caused many buyers to stay on the fence of indecision hoping to buy at the optimum time. If the reason you are buying is to do a quick 'flip' of the property to make money, waiting most definitely makes sense.
What if the reason you are moving isn't about finances however. Does it still make sense to delay? That depends on why you are buying. What if your purchase is more about improving the quality of life for you and your family? Or moving into a school district where your child's talents will be maximized? Or being closer to friends and family? There is a cost to delaying any of these decisions.
We realize everyone wants to make a sound financial decision no matter the actual reason for moving. Delaying in a hope to 'time' the market might not make sense however. Forbes.com addressed this issue in an article by John E. Girouard last week:
He went on to say:
Don't make buying a home solely a financial decision. Is the real reason you want your own home more important than money? Only you know the answer.
News for Prescott AZ - AmericanTowns.com
Wednesday, October 19, 2011
Why Do You Want to Buy a Home?
Posted by Brad Bergamini at 4:56 PM