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Wednesday, October 10, 2012

Should you buy more house than you need?

Earlier this week I read an article discussing how and why many first-time home buyers are stretching their budgets a bit to buy more house than they actually need at this time.

Apparently the reason is the historically low interest rates and the prospect for lower or slower appreciation in the near term.

In the past buyers would purchase just enough home to suit their needs and after a few years or so sell and move up to a larger property.   The short term “make do” property and the ability to build equity was a reasonable strategy.

Now, with buyers anticipating a longer period of home ownership than in the past, it may make sense to go large.

Especially now as the decline in home process seems to have slowed or even bottomed out.

One thing is obvious - with rental rates on the rise for many it does make sense to buy a home now rather than later if your circumstances permit.

After all the deals today are unlike deals of the past! 

If you are considering buying a home, call me at 321-693-3850 or email me if I can assist in any way. 


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