Transcript
Hi guys, a question that often gets asked in markets like the one we are at present, “should we buy now or wait until the prices come down?” Answer to that totally depends on your individual needs and circumstances. If you’re a buyer and have to sell, then it really does not matter if you buy now or later, because my advice in such cases always is, buy and sell in the same market. Expecting to make gains by selling when the prices are high and then wanting to wait until prices come down to buy, is something I would advise against, because timing the market is a risky proposition. Then there are buyers who will want to continue to rent until they feel the prices have come down far enough. Renting makes sense if you do not have enough money saved up for a down payment and closing costs. However, if you have enough savings, then why would you want to pay down somebody else’s mortgage and have nothing to show for yourself at the end? You all take care.