I’m not a financial expert. Just make sure you’re not buying too high. I saw this happening in 2008. Next door neighbor bought their house for 2x what I bought mine for. Market crashed and they were way underwater. People in my new neighborhood are moving from Cali and paying waaaaay too much for homes here.
I wouldn't wait around for something that may or may not happen but that's just my opinion.
You will definitely get a better deal if there is a crash but you've also got to consider the quality of life for the next 2-3 years for your family living in an apartment.
Prices may just continue to rise due to inflation. If you're barely able to afford it now then it might be better to move sooner rather than later. Since its generally cheaper, a 10% increase might not really impact you much (house going from 150k to 165k or something). I would recommend exploring the areas you're interested in and talking to people in the areas now though if you want to pull the trigger soon.
Just be careful. You’re buying in a very hot housing market which will surely crash in a few years.
If you're gonna live tgere,it doesn't really matter.
You don't lose money on a house unless you sell at a loss. No different than investing
So what do you suggest I do if I want to get a semi rural property? Wait on it?
I’m not a financial expert. Just make sure you’re not buying too high. I saw this happening in 2008. Next door neighbor bought their house for 2x what I bought mine for. Market crashed and they were way underwater. People in my new neighborhood are moving from Cali and paying waaaaay too much for homes here.
And they're probably going holy crap these homes are cheap lol. Man the irony.
I wouldn't wait around for something that may or may not happen but that's just my opinion.
You will definitely get a better deal if there is a crash but you've also got to consider the quality of life for the next 2-3 years for your family living in an apartment.
Were planning to buy a home eventually. But maybe renting can be smart to decide if a place is really for you or not
Prices may just continue to rise due to inflation. If you're barely able to afford it now then it might be better to move sooner rather than later. Since its generally cheaper, a 10% increase might not really impact you much (house going from 150k to 165k or something). I would recommend exploring the areas you're interested in and talking to people in the areas now though if you want to pull the trigger soon.
Were not planning on it for a few more months. Wife is pregnant and high risk. That's the only reason I'm still stuck here.
Good luck with the newborn. Sounds like a challenging time to move, take the time to carefully plan where you want to be.