My husband and I have been wanting to buy a house for the last nearly four years, but just can't seem to do it. We're always looking and hoping and dreaming. We don't know the best time to buy market-wise, nor financially-wise, nor income-level-wise. Any advice, ideas, whatever???
2006-08-15 23:19:04 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Best time to buy a house is when interest rates are high, demand is low and the supply of homes on the market is high. Sure, you will have to pay a higher interest rate, but you will get a better price. Then when interest rates go down you can refinance the loan and take advantage of lower rates.
The worst time to buy is when demand for homes is high, supply is low and rates are low. That is truly a sellers market.
So take advantage of the buyers market, we should be in one soon.
Good Luck.
2006-08-15 23:24:46 · answer #1 · answered by Jon H 5 · 1⤊ 0⤋
Now before interest rates go up.
Start with Robert Irwin's books on buying/selling. Do your research on what you can afford (pre-approval), what you "have" to have, neighborhoods, schools, etc... Know your market
Everything is negotiable. And take your time. The realtor may try to get you to hurry up and decide, but do what feels right to you. Houses that "won't stay on the market" are usually new listings with some unique perk.
Get educated on buying a home and find a realtor you like and that will work hard for you. www.realtor.com is a great way to find listings in your area and search for a realtor.
2006-08-16 00:49:33 · answer #2 · answered by Anonymous · 1⤊ 0⤋
dear sister, the best time to buy a house is when u think after buying the house, you won't have to make ends meet and still have a comfortable level of money in ur bank account.
what i would advise is buying a smaller unit first since you only mentioned ur husband and urself, so when you guys have achieved better income level and larger family, then only plan to move away and decorate ur dream house. It's always hard to straight away get your dream house without going thru a few first.
hope that helps a little :)
2006-08-15 23:27:42 · answer #3 · answered by Autumn 2 · 1⤊ 0⤋
Now is a good time in most areas of the country, but be careful. People with a middle class income are often encouraged to buy as much house as they can qualify for. That figure is usually more than you can actually afford.
2006-08-16 06:21:06 · answer #4 · answered by sahr67 1 · 1⤊ 0⤋
The real estate market is busiest in the summer. So, the best time to buy is in the winter January/February.
2006-08-16 02:22:29 · answer #5 · answered by 10 pts for me? 4 · 1⤊ 0⤋
when ever u like
2006-08-15 23:26:36 · answer #6 · answered by deep_aris 2 · 0⤊ 0⤋