Home Buying:  When is the Best Time?

One of the questions we are asked most often is, “when will be the right time to think about buying a home?

The answer is right now, if possible, but let’s expand on that a little further.

One of the main concerns of those looking to buy a property is what might happen to house prices. Let’s face it; nobody wants to invest in such an expensive asset if it is going to continue to lose value. With the media full of reports of double digit declines in values, and estimates of further significant reductions throughout 2009 it would be very easy to conclude that it would be better to wait until values have reached rock bottom.

However, one must understand… waiting until we THINK we’ve hit “rock bottom” often times proves that the bottom was actually reached much farther back in time than when we think it has. Only time tells this for sure.

Some think the recession will deepen into a depression, and the ensuing availability of thousands of repossessed properties from those who lose their employment will force down prices even further. While this is a possibility, we have to ask ourselves whether a government who has already invested billions of our tax dollars into the banking system, and has introduced revolutionary schemes to help those whose homes are at risk, are prepared to let this happen. Our opinion is, they are not.

What’s your opinion? We’d love to hear any comments you might have on these thoughts. Just click the comment link below. Remember, even though your email address is required to post, it will never appear with your post to protect your privacy. We’d love to hear from you!