Whether you are considering buying your first home, considering buying again after a short sale, or deciding if you should buy after relocating to the San Diego area, the first question buyers should ask themselves is: “Is now the right time for me to buy a home?”
Let’s take a look at both sides of the question.
First, the reasons why it is a good time to buy a home:
1) Home prices are down. Interest rates are still at historic lows. Right now you can lock in to a low interest 30-year mortgage and your payments will not increase as your income rises. Compared to home prices and interest rates back in 2006 and 2007, you can now buy considerably “more home” today for the same amount of money.
We don’t know how soon home prices will begin…