It's a valid question.
Before I give you an answer you need to answer a question for me. Are you buying for the first time or are you moving on up?
For our primordial buyers
(I just couldn't resist the star burst. Who doesn't love a good star burst?)
I am hearing time and time again that first time home buyers (FTHB) are going to be what kick starts the stall in the housing market. It's kinda like the food chain. FTHB buy the starter home which allows the young family to move up to the single family home which allows the growing family to move up to a bigger home that gives them room to breath and allows the empty nesters to move down into a condo.
So is it a good time for the FTHB to buy? Given that mortgage rates are at their lowest point in years, government programs are increasing, house prices are dropping it makes more sense now than ever before.
You're an old pro
Are you ready for an upgrade? Can you afford to if your house value has dropped? Not only can you afford it but you can profit off of it!
You must remember that you are buying and selling in the same market and that it all fluctuates together. The time you would loose is when you are either down grading to a smaller home or if you are not repurchasing at all.
Take advantage of this buyers market because any equity you have sure as heck can't buy you love.
M
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2 comments:
I almost forgot about the Land Transfer Tax Credit
I'm going to be keeping my eye on the first time home buyer incentives.
Looks like we'll be looking to buy within the next year and I know who my go too guy is going to be.
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