To Buy or Not to Buy (that is the question) 2018

If I had a dollar for everyone that asked me if this is a good time to buy, I could retire early or at least take a nice vacation.  All jokes aside, here are the facts. 

1. Prices across the board are still affordable
2. Interest rates are still low
3. Down payments are minimal
4. Inventory is dwindling

So YES, it’s TIME to BUY a piece of property.  Many experts are saying prices will continue to rise, rents will increase, and interest rates will certainly rise over the next 12 months.  Maybe they are right and maybe NOT, but WHO CARES.  Clearly, we all want a deal and bragging rights because we bought for the lowest price and sold for the highest profit.  However, prices are rising and now is the time to pull the trigger, worrying about someone down the street who pays a few dollars less than you doesn’t make much sense.  My dad always said, “study long, study wrong” don’t miss a great opportunity fishing at the bottom, because you might end up with a hand full of sand.

There are truly only two types of buyers, owners and investors.  An owner is buying to live in the property and occupy it as their primary residence or vacation home.  Investors on the other hand are buying with the sole intention of selling or renting. If you are buying with the intention of selling (flipping the property), you want to pick the property up for the absolute lowest price, so you can maximize your profits.  With prices rising those opportunities are not as plentiful, but still exist. Investors buying to hold (rent) properties are not quite as cost sensitive. Every economic indicator says that rents will dramatically increase over the next decade and renting will be in high demand. Investors that play in this field, simply look at the ROI return on investment. If they can cash flow monthly and have an asset that is appreciating they are happy.

So what about YOU, the end user. Why should you BUY?  Simply because you must live somewhere and pay someone.  Why not pay your own mortgage vs paying someone else’s. Currently you can still write off mortgage interest and with modest appreciation and this low interest rate environment you can still buy at a great price and payment. 

Don’t be that person fifteen years from now, talking about the great four-plex that you missed out on.  That perfect dirt lot, that a shopping mall ends up being built on, or just simply in a home that could have over six figures of equity all because you had a failure to launch.

BUY NOW!!!