DO you think it would be a good time to try and buy your first house right now??
By peachmom2369
@peachmom2369 (131)
United States
August 23, 2009 9:08pm CST
you can get such good deals on foreclosures right now so i would think that i would be a good time to buy a house but im not sure i just got married and i have a 7 month old that we are sharing a room with in my husbands house and we really want to get our own place but dont wanna waste money on renting and apartment when in the end your left with nothing after paying all that money. what is your opinion and what would you suggest to do in this situation????
1 person likes this
4 responses
@ellago (127)
• Philippines
16 Jun 10
If you think you can now afford it, go and buy a house. However, based on the books I read, a house is a liability because it will not put money on your pocket instead it will get money from you if you will loan it from banks.
Try buying a simple house first. Save enough money to buy another house that will generated you a passive income. Then buy a bigger house if your passive income can already sustain or if it is already bigger than your expenses or earned income.
@besthope44 (12123)
• India
12 Jun 10
Well i wished for a dream home. And i got it recently. I got little amount for it and rest through loan. I am happy i got my dream home near my farm. Investing on home is life long asset for us and kids.
@lologirl2021 (5542)
• United States
24 Aug 09
Right now is the perfect time to buy for new homeowners, it might not be the best economy but for the housing market it is, because there not to expensive and you can get a good deal on a nice looking and even a bigger house right now. I have had a lot of my friends purchase houses with in the last two months that they never thought would of happened. I hope that it is still a good time in January to buy a house as my boyfriend will be looking then when he is done with other projects such as his toy car he has. Well i hope i was able to help and hopefully you can enjoy buying a new home soon.
@phyrre (2317)
• United States
24 Aug 09
It's tough to tell. Market-wise it is indeed a good time to get a house because they're going to be cheaper than usual. On the other hand, the economy is a bit unsure and work is unsteady for many people and you need to make sure you can afford the house before you buy it.
That being said, my husband and I are currently trying to buy a house right now because we happened to find one that we like. The trouble we've encountered is that even though it's a good time to buy houses, lenders are getting really tight on who they'll lend to and everything because people are having trouble paying back their loans.
So if you can afford it go for it, though I'll tell you right now that it's going to be difficult affording a house and a child unless you've both got good jobs. I would recommend talking to some more experienced family members about it and discussing your financial situation before considering it.