At this moment, is it the right time to buy a house or rent?

Asked by Yg, South San Francisco, CA Fri Nov 26, 2010

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7
Karla Wagner, Agent, Bonney Lake, WA
Fri Nov 26, 2010
It all depends on your personal situation and future plans. In other words, if you're planning staying in the home for at least 5 years, then a home purchase would be a wise option, especially since there are so many great values right now, and interest rates remain low.

However, if you're not absolutely sure, and may have to sell or move in the next few years, then renting may be a better option for you.

Good luck!
1 vote
Phil Rotondo, Agent, Melbourne, FL
Sat Nov 27, 2010
Yg,
Posing the question is your own indication that the market is swinging to purchasing.
Opportunity is knocking; answer the door.
Web Reference:  http://www.321property.com
0 votes
Bill Eckler, Agent, Venice, FL
Sat Nov 27, 2010
Yg,

At this point is it a good time to buy a car, have a health physical, or invest in buying gold? The answer to these questions as well as the one posed to this forum is that it largely depends on the individuals level of need.

Yes, it is the right time for some to purchase real estate while it is not for others.....one thing remains certain, this is a GREAT time for people to be exploring their options.....even if they are unsure of their personal needs.

The only real mistake a potential buyer can make at this time is to not be actively looking.................

Respectfully,

Bill
0 votes
Cameron Novak, Agent, Corona, CA
Sat Nov 27, 2010
If you don't already own a home of your own, the time is now. Interest rates are terrific, tax benefits are spectacular, and the market has shown some stabilization after almost 3 years of decline.

Good question.
0 votes
David Tapper, Agent, Burlingame, CA
Fri Nov 26, 2010
It depends. If you found the right home, one that fit your wants and needs and got a great buy, why not? That coupled with the low rates makes it a good time. I think right now, the 4th quarter of the year is always a good time to try and steal a deal.

If you share how much rent you are paying and what your price range is we could run some numbers and see if it makes sense.

Good luck and Happy Holidays.

Tap
Coldwell Banker
http://www.DavidTapper.com
http://www.TeamTapper.com
650-403-6252
0 votes
Daniel Berman, Agent, Palo Alto, CA
Fri Nov 26, 2010
The only honest answer to a question about the direction of market values is that no one has a crystal ball.

The appropriate question for any buyer is not so much whether it is "a good time to buy" in general but rather, would that be the best decision for you as an individual, based on your particular circumstances?

There are actually numerous "Rent vs. Buy" calculators online. You will find that the criteria (input variables) differ among them. One useful exercise would be to experiment with several of the different calculators and see how you come out, using different criteria. Just Google "Rent vs. Buy" to get started.

Ultimately, it's a personal decision based on your own individual considerations. Certainly, if you don't plan to live in the house for at least a few years, "costs of sale" may put you in the negative when you sell.

A good loan consultant/financial advisor and real estate agent could help you arrive at a wise decision.

Sincerely,
Dan

Daniel Berman
Pacific Century Realty
Buyer Rebates to 50%
Listing Commissions as Low as 1%
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0 votes
Michael J. L…, Agent, Burlingame, CA
Fri Nov 26, 2010
It is a great time to buy. Prices are lower and interest rates are at historic lows.
Let me know if I can be of help.
Good Luck
Michael Liffmann
0 votes
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