Consider:
1) If you can continue to rent a similar house for $1,000/month less – well, there’s your answer.
2) Is your emotional attachment to this house (having previously selected it, put in the options etc.) playing a role in this decision?
3) Do you have a desire to ‘recover from past bad decisions’ that is driving this decision to buy?
4) Look to the current market weakness, not the price spread between what the home used to sell for and what it now sells for as your guide. EG: Just because it is now 200k less does not mean it is a good deal.
5) Do you have a false sense of ‘this was meant to be’ going on here? Coincidence of the same house you almost bought being up for sale again etc.
Just some thoughts, and emotional issues not normally discussed…
