In the market today what makes you buy a house?

Answer 1

well depends of what people planning to do....

People wants to buy a house to....

1.Just to have there OWN place. More privacy and you can do whatever you want to it.
2.NOT to waste there money renting apartments/homes. If you have your own home after 6months-years you can refinance and get some money from it for personal spending or you can use the money to remodel your house. If you remodel the house the house value goes up. Or just stay at your house it'll go up after 6months-1year. Depends on the location though.
3.GOOD INVESTMENTS. People nowadays does what they call Investment Properties or Property Investments. You make a lot of money doing these.

Just a little info*
You have to have a good credit/ good source of income to make it all possible. Not having any problem to do your loan. But then again theirs always something will come up that it would take the loan longer to process. Just be patient though it'll go through.

But nowadays lenders have a lot of programs to make you afford a house. Even if you have a bad credit or even bankruptcy.

Answer 2

1. There is no national market. Based on a recent study that the Realtor association conducted 79 cities saw falling prices, 77 recorded rises and 8 were unchanged. They survey has been down every year for a while and I think they perform the survey more than 1x a year.

The point is the market is always local so what is going on locally matters.

2. There are many communities and even whole states that have seen largely flat prices for the last 5-10 years. Texas north to the Canadian boarder. Some specific exceptions in each state. Local economics matter. When the manufactures are closing plants house prices tend to take a dive.

3. In any market there can be bargains. Someone who has more need to exit than they have a need for full price. Estate sales are a common example. The estate has no money to fix the place up to make it ready for market but it has defects that turn off most buyers. The heirs want a check more than they care about the exact size of the check. This is money they were not really expecting so any amount is a positive. They do not want to be taken advantage of. They might not have any emotional ties to the property so a clean deal that closes quickly can be much more important. They have lives that might need the money for something else.

4. Your situation matters a great deal. Is your income stable? Will you need or want to relocate in 2-4 years? Are the rents for what you like higher or lower than buying? Do you have a growing family that will need more space? Do you like to tinker around the house or prefer to have someone else be responsible?

For some people it is always a great time to buy. They adjust to the market and their conditions. They do not mind holding a property longer than they want to live in it (they will rent it if it does not sell when they move on).

For others never buying would be too soon. Some just prefer to not be tied down or have a career that really does keep them moving around (multiple countries).

If you do buy, buy smart.

Answer 3

Even in the worst of markets you are still better off buying then renting if you can get decent interest rates. At least you are taking a shot instead of GIVING away your money to a landlord every month.

Housing markets turn also. Whats bad now may be solid in 5 years. And if you cant sell for a profit, you can always rent your place until the market turns.

Answer 4

A. you have to live somewhere.
B. Paying rent never got anybody anywhere.
C. You invest 10% on a building and it appreciates in value based on the full price of the building so you make more on your money than you can anywhere else.
D. Interest rates at 6% are a good deal. The next time inflation kicks in watch how high the rates go. Lock in a good rate and sit back.
E. The same house would cost you more next year or the year after that.

Answer 5

Investment in yourself instead of paying my mortgage. I'm a landlord and the three rentals I have pay for themselves. I will have the property paid for by them in about three years. Plus I have the deduction of the mortgage interest and the depreciation of the rental property for the years that it is financed for. If you can afford it and can fix up yourself it's a good investment in most of the country. If you are struggling you have to figure taxes, insurance and also repairs and major fixes if something goes. there is no landlord to call then. It's all on you. So, that is the pro and con of the both.

Answer 6

doesn't matter where you are from everyine needs a roof over thier heads. Owning a home provides security and an investment for you and your family. there's many reasons to own.

Answer 7

If you are buying to keep as your home, then location, location and location. If you are buying to resale or make profits, then deal, deal and deal.