Should we buy now or wait?

Question

My husband and I are looking to buy a new property as the one we have is to small for children and pets and we want to start our family. Should we just buy a house or should we wait until after the global crisis. I think prices will go down but he says he cant wait for the world to change before he starts his life. My husband doesn't think this crisis will end soon and doesnt want to live his life around how much money we have now or will have and so on. Is he right?

Answer 1

Well with the economy right now housing rates in most places are the lowest they are going to be for a while! However buying a house is something that you have to both be comfortable with. I suggest that you both sit down and talk while making a pro and con list. If you are wanting to start a family then the space is needed though!

Answer 2

I don't know where you live but where I live it's a buyers market. However right now there aren't many buyers. I have to agree with your husband. You need and want a bigger house. Just be a smart shopper and you'll be able to find a bargain. I also agree with your husband about the crisis not ending anytime soon. Hopefully, it won't get much worse. Good luck finding your new home.

Answer 3

all depends on where you live.

I live in Australia and just bought my first home a month ago, and took advantage of the Prime Ministers $14,000 first home buyers grant.

Interest rates are the lowest they have been in decades.

I work in a bank, so I hear and see alot of what goes on, in regards to talks of the crisis. I do not believe australia will reach a depression. I believe Australia will bounce back after the end of the financial year. I think we can expect to see maybe 2 smaller interest rate cuts, not full percentages though. And then, after that, interest rates will be on the rise again. The wheat and grain crops in NSW Australia have been phenominal this season, producing a 40 billion dollar profit, so we can expect to see the export market back in demand for Australian crops. Which is good for our economy!!!

However, if you live in America.... you guys have a long road ahead of you..... and your husband is right. Don't put your life on hold waiting for things to get better. They could get worse before they get better. Life is about taking risks..... JUST DO IT!!!



and .... good luck!!



:)

Answer 4

OMG! This is a buyer's market right now. If you have good credit and can pick up a house at this time, that is the best. There are so many repos right now that you can get property for pennies on the dollar if you have good credit and feel secure in your particular job market! Go for it while the getting is good.

Answer 5

I agree with Grn Thumb,This is a buyers market,and If you feel confident in your job status I would say go for it. Take your time when you start looking and I am sure you will find what you are looking for at a great price.