How long are you going to wait before you decide to buy a house?

By
Real Estate Broker/Owner with Richard Weisser Realty

How long are you going to wait before you decide to buy a house?There are a lot of decisions to be made when it comes to purchasing a home. And the current real estate market is volatile and rife with uncertainty.

But regardless of the condition of the market in ANY given area, there are some undeniable facts about purchasing a home that cannot be overlooked:

You have to live somewhere anyway. Buying a house to live in is NOT an investment. Purchasing a home is taking control of your own housing destiny.

Interest rates are at historic low levels, which make the purchase of any property more affordable and competitive with renting.

If you stay long enough, your house will be PAID OFF! And with 15 year rates this low, the possibility of paying off a mortgage becomes more of a probability. And once a house is paid for, your housing expenses become minimal!

So stop standing on the sidelines and waiting! Look at the facts and then GET MOVING!

close

Re-Blogged 4 times:

Re-Blogged By Re-Blogged At
  1. Gayle Barton, Forsyth County Real Estate 07/14/2011 01:10 AM
  2. Al Raymondi 07/16/2011 02:56 AM
  3. Barbara Martino-Sliva, Top Producer 07/16/2011 04:41 PM
  4. Ellie McIntire 08/28/2011 03:20 AM
Topic:
Home Buying
Groups:
Realtors®
The Lounge at Active Rain
"Whacked"!!!
Club Chaos
Diary of a Realtor
Tags:
home buying
buying a house
purchasing a home
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Rainmaker
5,086,423
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Richard....so many are waiting and continuing to look for that perfect deal....these are the buyers who never buy because they missed the opportunity.

Jul 14, 2011 12:42 AM #1
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Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

The photo is perfect! Waiting can really mean losing a great deal, or losing any opportunity at all! Hope you are well Richard.

Jul 14, 2011 12:43 AM #2
Rainmaker
799,271
Cindy Edwards
RE/MAX Checkmate - Johnson City, TN
CRS, GRI, PMN - Northeast Tennessee - 423-677-6677

Good morning Richard,

Now is absolutely the best time to buy a home.  And you you right about these 15 year loans.  Get up and buy people!

Jul 14, 2011 12:44 AM #3
Rainmaker
240,587
Faith LaRosse
Springer Realty Group - Wyomissing, PA
Serving Berks, Chester & Montgomery Counties

Richard- this is such a great post.  That was almost exactly my Facebook post a couple days ago...Why wait?

Jul 14, 2011 12:45 AM #4
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Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

"You have to live somewhere anyway" says it all.

Jul 14, 2011 12:49 AM #5
Rainmaker
1,560,096
Mike Cooper, GRI
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Well said, Richard.  The bottom line is you have to live somewhere.  Thanks for posting and have a fabulous day!!

Jul 14, 2011 12:51 AM #6
Rainer
265,645
Gayle Barton, Forsyth County Real Estate
BERKSHIRE HATHAWAY Georgia Properties - Cumming, GA
Cumming GA Homes For Sale (404) 710-0204

Great post Richard.  You hit the nail on the head. Re-blogged and suggested!

Jul 14, 2011 01:12 AM #7
Rainmaker
637,633
Maria Morton
Chartwell Kansas City Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

Here, here!

Jul 14, 2011 01:15 AM #8
Rainmaker
861,200
Gabrielle Kamahele Rhind
KGC Properties LLC, Tucson Property Management & Real Estate - Tucson, AZ
Broker/Owner

GOOD MORNING RICHARD!I appreciate that you write that buying is not an investment - it's controlling what you spend your money on!  Like all of your posts - you really have a terrific way of saying things!

Jul 14, 2011 01:21 AM #9
Rainmaker
1,522,098
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County

There is no "R""O""I" in "H""O""M""E"....says it all.

Jul 14, 2011 01:33 AM #10
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Richard Weisser
Richard Weisser Realty - Newnan, GA
Richard Weisser Retired Real Estate Professional

Barbara...

And they will miss the boat. Thanks my friend.

Andrea...

I'm tired but OK. I wrote this blog around the photo! Thanks so much for noticing.

Cindy...

PLUS you get equity in a hurry with the 15 year loan. They are great! THX.

Jul 14, 2011 01:50 AM #11
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Richard, you make a good point about paying off the mortgage early.  And while the house is not an actual investment, it pays off like one at the end in one way or another.

Jul 14, 2011 02:10 AM #12
Rainmaker
889,655
Sussie Sutton
UTR Texas Realtors - Pearland, TX
UTR TEXAS Realtors - Rep for buyers and sellers.

I love this post.... it takes my breath away... paying my house off in 15 years sounds awesome!

Oh I now it is a doable thing and all but I am trying to go for a goal of no bills including my house note!

Jul 14, 2011 02:25 AM #13
Rainer
324,283
Don MacLean
New England Real Estate Center Inc. - Easton, MA
Realtor-Homes for Sale- Easton Mass

So true about liking somewhere. And just think (which we all know) paying yourself is far better than paying the landlord.

Don't be that guy that says I should have bought back when........NOW is then

Enjoy the day

Jul 14, 2011 02:58 AM #14
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Craig Rutman
Helping people in transition - Cary, NC
Raleigh, Cary, Apex area Realtor

Anyone who is still fence sitting with rates and homes at historic lows, and who can qualify for a loan, will be missing the boat on investing in their future. They have to live somewhere anyway. Why not purchase rather than rent?

Jul 14, 2011 03:32 AM #15
Rainmaker
1,800,589
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond

I love this Richard, i see some of the same people i saw 6 months ago still coming to my open houses and can't choose!  They will lose too...

Jul 14, 2011 06:18 AM #16
Rainmaker
3,983,519
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Richard...things were moving alone fairly well until today.  Late yesterday some fool reported on some news forum that your house could still lose 20%.  I had two people call and decide to wait a spell.  This is the 2nd time for one of those calls.

Jul 14, 2011 12:43 PM #17
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Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

Richard,

Excellent point about buying a home to live in is not an investment. Too many people forgot this maxim and got into trouble.

Rich

Jul 14, 2011 04:28 PM #18
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Michelle Cherie CarrCrowe Just Call...408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

I think the point is people should remember they have SOME housing cost not to own, too.

Jul 16, 2011 04:56 PM #19
Rainmaker
1,471,526
Donna Harris
Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com - Austin, TX
Realtor,Mediator,Ombudsman,Property Tax Arbitrator

Some people wait so long for that perfect house, but in the meantime, they could buy an inperfect house while not throwing rental money away.

Aug 28, 2011 04:05 AM #20
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