The Market Shift
The only way you as a buyer will ever know the market has bottomed is after it has started back up and the only way to know the market has peaked is after it has started back down.
Nobody can perfectly time a market, but anyone can “play it safe” in the safe zone. The safe zone is where smart people plan to buy and sell. Anyone who buys at the top of the market is just unlucky and anyone who buys at the bottom of a market is just lucky. The real buyers in a buyers’ market aren’t trying to predict the floor but are just trying to buy smart. They aren’t looking for a killing because they know that’s a matter of luck, not planning. They know they can just as easily miss it as hit it.
Purchasing a property is most likely the biggest financial decision you will ever make. Whether this is your first purchase or you are an experienced buyer, this decision must be made carefully
Why Do You Want To Buy?
Are you tired of paying rent? Have you decided to pay your own mortgage and not your landlord’s? Have you outgrown your current home? Are you looking for an investment portfolio? Are you looking for a rental property? Would you like a larger yard? Would you rather live in a different area? Do you want to shorten your commute? Having a clear sense of your reasons for buying will help you choose the right property.
Has Your Income Grown?
Property ownership is an excellent investment; whether you are looking for your dream home, a rental property, or to expand your investment portfolio. Owning real estate is one of the least risky ways to build equity or to obtain a greater return on your initial investment.