Believe or not….there is “never” the best time to buy. Too many factors are involved and most are out of your control and can’t be predicted with any certainty.
If you can afford to buy a property, buy it. All financial ‘catches’ must be included in the thought process. However, ‘fear’ must never be a factor.
work it thru’ logically. Do the math. Include your future plans in the equation. (jobs, hobbies, college, debt, etc.)
Yes, you mortgage will never go up …ever. and you do get to deduct interest which is a big and huge bonus for the first 5,7,10 years.
As a for instance (w/o divulging income) we get WAY more back in income taxes than we put into annual insurance and property taxes.
We’ve been walking that tight rope for several years now and see it continuing for at least a few more.
It adds up.
by the time we lose our tax advantage (as is) we gain in the rent payments that we haven’t had to pay vs steady mortgage payments we do pay…for ever.
