Time To Buy Roseburg Home| Roseburg Oregon Homes| Good Time To Buy House
As a Roseburg Oregon real estate broker, people are always asking me my advice about when it’s a good time to buy a Roseburg home. It’s a common question, and because it’s such a big decision, I’m glad people ask. The thing is, there are actually two different answers to that question , depending on why you are buying. This post and video are for those of you who are looking to purchase a house as a primary residence…to live in. For those considering buying as an investment, please read my article titled Investment House| Good Time To Buy?
I’ll clarify what I mean. If you are a real estate investor, the best time to buy may be totally different than for someone who just had their 4th child in 5 years and desperately needs that extra bedroom. Make sense?
So what’s the media say…
…about the best time to buy? You may have heard on t.v., read in the papers, or been told by a well meaning friend or family members that you should “wait for the bottom” before you purchase a house. Now, that all sounds good, but how do we know when we’ve hit the bottom of the market?
The fact is NOBODY Knows!
Okay, so now you’re probably thinking…gee thanks Mr. Smart Guy, you’re no help, but the fact is, not even the best economist, not the best financial guru, real estate broker, or lender can pinpoint the bottom of any market. We do, however have perfect hind sight. You see, after we’ve past the top or bottom of any market peak or valley, we can easily chart it on a graph. For instance, we know that July of 2005 was the peak of our real estate market for Roseburg Oregon.
Buying a Roseburg house as a Primary Residence:
You’re considering buying and you’re doing some market research. Now you’re just trying to digest the 3 course meal of information and advice that you’ve received to put it into an applicable plan for you and your family.
You’ve heard it said that your house is the largest investment that most people will ever make. My advice is to forget that you ever heard that! When you buy a house, you’re not buying an investment. It’s a place to call home, you need to look at your purchase of a house the same way. In other words, you buy a primary residence when you need a roof over your head.
Did you know, that even if prices go down by another $5,000 over the next year and interest rates go up by only 1%, you would be paying an additional $5,124 in interest over the next 7 years? (based on a hypothetical $150K sales price with 5% down) It’s a gamble…
…and so much for saving money!
You see the error in waiting for the bottom?
My advice to you who are thinking about buying a house and trying to figure out the best time to do so is to take the information we have right now and make your decision based on what your needs are currently and what do we know?
- We know that we have super low mortgage interest rates right now!
- We know that home prices are fantastic right now, and it’s a great time to get a very good buy. Prices are equal to what they were in about 2002!
- We know that if we aren’t on the bottom of the market that we must be very close.
- We know that if we wait, we could potentially end up costing us more money than we might possibly save.
If you considering purchasing real estate and want to experience the benefits of home ownership but don’t know where to start, give me a shout, I’d be happy to answer any questions you have. Is it a good time to buy a house in Roseburg Oregon? Absolutely! Go to Troy Schuyler and search for a house NOW!
Good Luck and God Bless!
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