Buying is a personal decision. What are your personal reasons for buying a home? Getting married? Need more space? Tired of commuting? No one but you can determine your “why.” But, once you have your “why,” is there a good reason to wait? In most instances, the answer is “no.”
The opportunity to buy is good right now.
Interest rates are attractive. There is more inventory. Sellers are more willing to budge off price. So why wait? Are you afraid of paying too high? Frankly, most buyers are fearful of over-paying, at least to some degree. Do you think prices will come down? They might, but no one can predict the bottom. Frankly, it can be hazardous to try to time the market. Focusing on price can cloud thinking and cause missed opportunities. Real estate is a long-term investment. If you are always in the market, you may never sell at the highest peak. You may never buy at the lowest, but you will do well over time. Very well.
If you have a good reason to buy, then it’s important for you to have the confidence to do so. Market expectations aside, buying real estate is a good investment. Any successful real estate investor can attest to the fact that wealth comes from the combination of appreciation plus debt pay down.
If you want or need to buy, prepare yourself emotionally and mentally to do so. Listen to an expert in the field and tune out all the voices that are causing reluctance and confusion. Remember, no one can perfectly time the market, but you can make the perfect decision for you. Find the best buy for you, and don’t look back.