There is something that makes me laugh when I surf the blog roll on AR. “Time to buy now”, “Best time to buy is now”, “5 Reasons to Buy Now”, etc. is hitting you on the head again and again and again.
Interestingly, I have never seen anything like “Don’t rush with your purchase", “Ten Reasons Why to Buy Later”, etc. So far it is only about the best time to buy and this time is always today.
So, why is that?
The rate is exceptional…
Prices are great...
Inventory is still good
Buy today, or you might pay more tomorrow
Fine. And still one thing is missing. The most important one.
The time to buy a home is when you need a home and can afford it. Period.
It is not like shopping in Supermarket. Buy one get one free, and we take two, while we need one. And if you do not stick to your list you prepared before going shopping, you will end up buying more than what you really need.
Would you buy a home today, because you might need it in 10 years (except as investment)? Life is not going to stop when the rates go up. You buy a big house for your family with three kids when you got the family and already have two kids, not when you are a kid yourself.
Wal-Mart shopping mentality is not good when you are talking about real estate, even if it is so happily promoted by agents on AR and by NAR. (Of course, we know that agents are always impartial... :)
Again, the reason to buy a house is when you need it and when you can afford it.
Photo by Images_of_Money via Flickr.com
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