Quote:
Originally Posted by Ducay
For us, the main issue is mainly people telling us to wait for the market to come down more. We're looking at buying in the summer (by August) and I really don't want to rent a place just to wait and see if the market does come down a bit more.
Am I crazy for wanting to buy? Depending on what we end up with, we'd likely be in that place for 4-5 years.
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Yeah, now we're in the same boat, receiving the same advice.
This message sounds very similar to those telling people who invest in equities to hold off because the stock market should be retreating more.
Seriously, who gives a flying fata if you time each transaction perfectly?
What is the downside of buying now? And what is the probability of that occurring?
You buy now and the market drops another 10% in a year.
More people get in and the market recovers.
Then interest rates spike a year after that.
Then the market gets flooded with houses that people are defaulting on.
So the market goes down again...
ad naseum.
Are you in your house to make money, or are you in it to live there?
That's the way I look at it, and I intend to buy if I see something I like, even if I do agree that the market is likely to go a bit lower in the coming months.
I'd rather get settled in and moving towards other things instead of sitting reading charts and articles, worrying about how well timed all of my actions are.
Two things we will try to do, is stay as close to the inner city as possible where we're more confident in the value of the property, and not to buy the most we can afford.