Special offer

Why Buy Now?

By
Real Estate Broker/Owner with Daytona Condo Realty, 386-405-4408

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.

The Only Reason To Buy A House

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

Comments (14)

Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Great points Jon, and all very true.  Though I have quite a few folks buying now for their retirement home 5 or even 10 years down the road.

Apr 01, 2012 08:07 PM
Bob Jakowinicz
National Realty Centers Livonia--Bob Jakowinicz - Livonia, MI
Michigan Real Estate Agent-- MI Real Adventures

Again a different way of looking at things and I can see your point.  These topics make a lot of sense for those ready to buy now but were tougher to swallow the first few years of our recent market crash

Apr 01, 2012 09:40 PM
Jon Eliason
EXIT Realty Advantage Pagosa, Pagosa Springs, Colorado - Pagosa Springs, CO

Jon ~ Great post. Impulse buying, IMO, can lead to problems down the road. I like the part".... and can afford it. Period." This sums it up in a nutshell.

Apr 01, 2012 11:01 PM
Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.

You are so right Jon but not everyone can see the ocean for the water. When prices go up they will wished they had

Apr 01, 2012 11:18 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Gabe - yep, it is a good time to buy for your grandchildren and great grandchildren even if you do not have them yet (LOL)

Apr 01, 2012 11:53 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Bob - reading "Time to buy is now" it was difficult to see crisis (LOL)

Apr 01, 2012 11:54 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Jon - hey, it could take care of any crisis. We simply wouldn't have it

Apr 01, 2012 11:55 PM
Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -

Jon, well-written and very persuasive. I like your style!

Apr 02, 2012 01:15 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Charles - people buy when the prices are low, and they buy when the prices are high.

Apr 02, 2012 02:09 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Eric - sometimes I just need some sanity (LOL)

Apr 02, 2012 02:10 PM
Eileen Burns 954.483.3912
Trans State Commercial Realty Inc. - Fort Lauderdale, FL
FLorida Real Estate Connector

It's a great time to buy real estate.   Discover who has the money and follow it.  I so agree about interest rates and historically after elections rates increase.  Me thinks it will return to double digits so lock in now and get set for the next wave

Apr 02, 2012 10:21 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Eileen - really?   :)  :)  :)

Apr 02, 2012 11:46 PM
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

Jon - Same advice I give to my buyers.  Although if they are able to afford a home now, it would be good to lock in the 30 year rates, because I don't think they will be low after the election.

Apr 02, 2012 11:56 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Gail - exactly. All this "buy now" is pretty much self serving. We often do not understand how it looks, I mean our constant bombarding people with "Buy now" no matter what the market is.

I would not mind when agents do it if they also say "Hold on with your purchase".

Apr 03, 2012 12:05 AM