When is it a good time to buy?
One question that I get asked a lot is, when is it a good time to buy? And my answer is....it depends when you are ready. No one can time the market, you buy when YOUR timing is right. Here is one real life example that I'd like to share with you: It was in 2008 when the market had started to crash that I bought my first home with my sisters. I was in my 20's, not making much money and didn't have much saved either. Although the market had crashed, we spent $550K and that was still a lot for us! We also didn't have the 20% down that most of us feel like we need to have (there are many loan options out there, you don't need 20% down). But, we were certain that we wanted a place of our own and didn't want to rent. Were we scared? HECK YES we were! After all, $550K is over half of million dollars and back then I think I was making less than $50K/ year. We knew nothing about loans or the market and we certainly didn't think the market would recover so quickly and the home would be worth over $1M today. We bought the house simply because we were ready to be home owners and we were determined to do so! Did we have to sacrifice? Yes we did, but was it worth it? YES DEFINITELY! To me, it starts with the right mindset. Buying a home at anytime is expensive regardless of an up or down market. After all, it is the biggest purchase that most people make in their lifetime. If you can ride out the ups and downs you will come out ahead in the long run. I know many of my friends who bought homes before the 2008-2010 housing crash and today, they have built strong equity and are better off financially because of their purchase. To find out more about how you can buy your first home or your next investment home, please contact me. I'd love to help! Call or text: 510-363-7844 Email: email@example.com
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