Under what circumstances would you want to buy a house in a flat market?

Question

When would you want to buy a house in a flat real estate market? (http://www.fortwayne.com/mld/newssentinel/16526098.htm). There is only one suitable employer. And although I have friends and family in the area which would cause me to want to stay for a long time, I really don't foresee living in the area past 5 years. Can anyone think of good reasons why one would want to buy a house in this market?

Answer 1

Yes,prices will almost always goup if you're patient. To increase your gains,I would buy a property that's been on the market for a while and get a really good price,and look at a place that can do with some tidying up or painting.That's where the bargains are,and you don' thave to be so worried about "did I pay too much".

Answer 2

I've been selling real estate for 20+ yrs and in that time, I have not seen prices go down for any length of time...they always go UP eventually, just not as rapidly some years. Owning a home is always a better choice than renting unless you don't plan on living there at least one year. Why make someone elses payment by paying rent when you can be building your own investment?

Answer 3

I would only buy after considering the difference in cost to rent a decent place vs being able to buy a decent place to live for the same money.Check out 15 year mortgages or interest only mortgages. many things can happen in five years. check out what plans for the future the town has to draw business to the area.

Answer 4

My daddy told me that one thing they ain't making is land, and people are gonna always want land, no matter what it costs today, if the land next to it is proportionally priced, it will go up in value, that is where patience comes in.

Answer 5

real estate is the perfect hedge against inflation, and can generate rental income as well. so, if location is good, why not?

Answer 6

When you need some place to live?