I think you’d probably agree that the worst investing advice in the world is: Buy high, sell low. That’s the very definition of losing money on an investment, right?
So let me ask you: Why would you wait for the housing market to improve before buying a house?
I understand there’s a lot of uncertainty out there. Job security is questionable, unemployment is still high in some areas and you’re not sure what it takes to get pre-approved for a home loan. It can be scary. But here’s the thing:
Letting fear dictate your financial strategy for the future is a guaranteed way to pay too much for a house in the years to come.
Here are some facts:
– Interest rates are at or close to historic lows
– Prices for homes have plunged to the lowest levels we’ve seen in a generation
– Bank and government-owned property inventory is at an all-time high
– Rents are rising and rental inventory is shrinking (limited rental options!)
Shouldn’t you, rather than your landlord, be the one who benefits from owning a home? Right now is the “buy low” in the “buy low / sell high” cycle. Every day I help renters explore their purchasing power. You might be surprised just how qualified you are for home ownership.