Whether you should buy a home right now depends on your situation.

 

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Recently, I’ve been hearing this question a lot: “Should I buy a home, or should I wait?” The answer largely depends on your situation.

 

If you’re considering buying, the first thing to figure out is how much you can afford. Based on that, determine how much you can put down and what your monthly payments will be. Next, begin looking at homes that are currently on the market within your budget. Then compare how much you’ll pay in rent to what you’ll pay monthly to own a home in your desired area. With all that information, you can make an educated decision about if now is the time for you to buy a home.

 

"If you can afford it, you shouldn’t wait to buy a home."

 

In my opinion, now is an excellent time to buy, but just about any time is a great time to purchase and own a home. That’s because you’ll have tax write-offs, you'll consistently build equity, and your property will likely increase in value while you live there. Ultimately, I would say that you shouldn't wait to buy a house. With interest rates this low, you should get pre-approved, go out there, and see what's on the market.

 

If you have questions about this or any other real estate matter, please drop them in the comments below or send me an email. If you have a question you’d like answered in a future video, send those to me as well. I’d love to be your real estate resource.