Buyers are always asking if it’s a good time to buy. Here’s the thing…there’s never really a bad time if you are buying for your needs. When you are going through life changes, sometimes a new home is in order. Whether it’s a change in employment that requires relocation, a change in family size (marriage, adding chldren, adding extended family, divorce), or a change in financial situation, sometimes there isn’t really a choice. And that’s OK, because in the long run, real estate isn’t a bad investment when you are doing it for personal reasons.
For example, let’s say you are renting an apartment, and the landlord keeps raising the rent, or your upstairs neighbors are a bit on the noisy side? It is the worst feeling to not feel any peace in your home. I know because I’ve been there. I used to live in a condo that had residents on either side that didn’t realize (or didn’t care) how thin the walls were. I remember one night in particular when the mother/daughter combo next door got in such a huge fight, that the daughter (about 15 years old) slept on the patio!
Pretty shortly after that, we sold the condo and purchased a single family home. It was a great feeling to come home from work and not have to listen to the neighbors fighting, or listen to the other neighbor’s entire Whitney Houston album! We bought the house at what was a reasonable price at the time, and then in 2006, the market came crashing down. We couldn’t sell it for half of what we paid for it. But that was ok, because it was still better than paying rent to someone else and we were in an area that we loved!. In the end, when we decided to move, the market had recovered, and we sold the home for $72,000 more than we had originally purchased it for.