Welcome to the forums. That sure is a cute house. If you are anything like my husband, you’ll spend an additional $600-$800 per month at Home Depot to do all kinds of fun things with it.
A $400K loan, w/ taxes and insurance, will run about $3K/month. So you’d be out $2K/month over today, plus you’ll be losing equity, as your home depreciates.
What’s the big hurry? I imagine you are impatient for the market to cool. Acting on that impatience will cost you…
Have you read posts by others, who said they were glad they waited to buy, as they are seeing the market price continue to go down?
Did you see the previous post, where people asked about buying vs. renting? The advice from everyone was to keep renting, and wait a few years to get that same house at 30%-50% off today’s price.
If sounds like the market is softening in your area, since the guy has had no offers. He is obviously overpriced.
