Quote:
Originally Posted by Hemi-Cuda
Not sure if this belong in this specific thread, but not sure where else to ask. We're currently in the middle of house hunting with our condo on the market, and we were just contemplating lowering the price on it to sell it quicker and get a house. Now I'm not so sure, with the pandemic and oil price wars that seems like a pretty good recipe for another recession. I originally bought this condo in 2007, and a year later lost 30% of my value overnight when the '08 crash happened. I really don't want to repeat that mistake with an asset twice the cost
Would you consider buying a house right now, or waiting until later in the year to see what happens?
|
I’m content waiting on the sidelines before getting back into the housing market. The effects of this oil price slump will last a lot longer than the price slump itself, so (as a buyer) you should have plenty of time to shop for the right deal. Your situation is different in that you’re also selling; I’d be inclined to sell and rent in the interim until you find the home (and deal) you want comes along...