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  1. #1
    The Asian Sensation
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    Default Good time to buy a home?

    Im thinking that I might start house hunting soon. Realtors keep telling me that this is a good time to buy and a buyer's market.Plus, My parents keep bitching about me renting and says that I should own a house by now.

    The thing is, Im a single guy and I dont wanna move into a big ole house by myself (I get lonely...). But, I can see my parents point because Im paying all this rent and not owning anything. SHould I wait until I get married, then look for a house? or SHould I take advantage of the Real Estate situation right now?

    Any Advice?...

  2. #2
    Moderator and Blogger boysRsmelly's Avatar
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    Default Re: Good time to buy a home?

    You wouldn't have to buy a big house. If you have money, it might be a good time to buy since it's not a good time to sell... which means houses are cheap, especially when someone is desperate to sell. Just remember you'll have to sit on it for awhile... don't think you can just decide to sell it and you'll be able to get your money back.

  3. #3
    The Asian Sensation
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    Default Re: Good time to buy a home?

    But, If I was to buy a house...I would look for at lease a 3-4 bdrm. Just in case for the future, ya know? I dont wanna move into a house and then get married and have kids and then haveta move out to another place because the house is not big enough.

    Im a lazy ass...

  4. #4
    Eclectic Bag Lover Le Marais Addict's Avatar
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    Default Re: Good time to buy a home?

    Purchase a condo is better. Maybe your SO would want to share their ideas regarding a home?
    Hopelessly handbag addicted !

  5. #5
    Moderator and Blogger boysRsmelly's Avatar
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    Default Re: Good time to buy a home?

    There's nothing wrong with upgrading. Believe me, my parents did it all the time... perhaps more than they should have, but there's no harm in buying a bigger house later on down the road. Isn't that part of the adventure of marriage? Getting your first house together, blah blah blah.

  6. #6
    A little eccentric warhols__muse's Avatar
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    Default Re: Good time to buy a home?

    Guy, the housing marketing is wonderful at the moment. People are trying to get out of their homes because they can't afford them. So basically, there's a lot of foreclosing going on and you can get a nice house without paying too much.

    I'm working on getting my real estate license at the moment, and I see you're from California. In California, there isn't any statutory redemption period which means when houses go to auction, it's because people can't afford them anymore and you don't have to worry about people trying to reclaim them after a certain period of time (like in most states).

    I would definitely say start looking right now.
    If love is the answer, what is the question?

  7. #7
    The Asian Sensation
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    Default Re: Good time to buy a home?

    But... If I buy a condo and need to get a larger place later and the housing market is back on track. Then I wouldnt be able to get a good a deal as right now?...DO I make sense?

  8. #8
    Moderator and Blogger boysRsmelly's Avatar
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    Default Re: Good time to buy a home?

    Do whatever you want Guy, I'm just saying that sometimes plans change so you don't want to bank everything in one spot.

  9. #9
    Bag Fan Newbie
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    Default Re: Good time to buy a home?

    i wouldn't rush out and buy one but it would be a good idea as the market is so low and if your worried about buying a big place you could always rent out rooms and it would help pay it off quicker

  10. #10
    working on my phd pingping's Avatar
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    Default Re: Good time to buy a home?

    It's great that you're thinking about buying a house, and it makes sense that you'd want a bigger place so that you could use it for your family someday. Thing is, you don't know that you'll be in your location for the rest of your life; you could have to move for jobs/school/a myriad of other reasons...I don't know what your personal situation is, but if you don't see yourself getting married/starting a family in the foreseeable future, I wouldn't go for a big house right now. A lot of stuff could change between now and then and then you could get stuck with a big house that could be more difficult to sell?
    Now on a BAN!

  11. #11
    Official Bagista Sammy's Avatar
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    Default Re: Good time to buy a home?

    The housing market is great right now for buyers. Chances are you would be able to find a 3 bedroom home for half of what it cost 2 years ago. And like someone else mentioned, you could rent out the extra rooms for awhile.

    That said, I really don't get the logic that if you are renting an apartment, you are throwing away money. Since when is having a roof over your head throwing away money? If you don't want to buy a house right now, don't buy a house. There's nothing wrong with living in an apartment complex. Owning a home isn't for everyone.

    If you are unsure if you should buy a house, I would err on the side of caution and say don't buy one now. Instead, save money for a larger down payment that will go towards a house for when you are ready to own one. The prices will most likely go up in a few years, but having a larger down payment will help.

  12. #12
    Karen linvline's Avatar
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    Default Re: Good time to buy a home?

    GUY, buy it and i will rent from you.
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  13. #13
    The Asian Sensation
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    Default Re: Good time to buy a home?

    Quote Originally Posted by linvline View Post
    GUY, buy it and i will rent from you.
    YOu sure about that?..Cause I like to walk around the house butt naked.




    Good Advices girls. I like the renting out the rooms to help pay off the morgage part. I think I will look into it. Thanks.

    I guess I will start my house hunting adventure now.





    ps- If I find a house that I like. Ill post some pictures.

  14. #14
    Bag Crazy! Crispini's Avatar
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    Default Re: Good time to buy a home?

    Houses are a giant pain. All that maintenance and stuff. And mowing the YARD. What a pain. I'd get a condo or something like that. I'm single and I bought a house and I wish I had bought a condo. I always have to either do stuff, or hire someone to do stuff. With a condo all of that is taken care of for you. It's different when you're married, you're not home alone doing stuff, you're (hopefully) doing stuff together, but doing stuff when you're home alone is BORING.

    But yes, now is a good time to buy, so you should buy a condo or something like that. Don't get more than you can afford, though, that's how we got into this mess. Make sure you could pay for it on like, half your salary or something like that.
    Wish List 2009 Updated Small leather things: Hayden-Harnett Carryall, color TBD, LV Key Case in Vernis, color TBD, Business Card Case, haven't found it yet. AND, Hayden Harnett Havana, color TBD, and SOMEDAY-- a Bottega Veneta!

  15. #15
    I am now LVholicmum juicyholicmum's Avatar
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    Default Re: Good time to buy a home?

    I just read your thread Guy... This is a really good time to buy a house I reckon, IDK bout the US but here the interest rates have hit rock bottom... Were thinking of buying a house as well... As yea, renting is a waste of money and we only have to add a couple of hundreds and the house is ours, KWIM....

    Its a good idea to rent out some of the rooms at least down the road, as you said, it'll be good if you decide to settle down. Also, a house is a great investment, it never loses its value so go for it!

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