Today, with the real estate market in turmoil, many buyers are worrisome about buying a home because they are haunted by one serious question: “What if I buy a home now and then prices drop?”
With the current real estate market, this is a valid question. The fact of the matter is, we don’t know for sure if prices have hit rock bottom.
But, this is a question that should only concern you if you’re buying for short-term investment – not if you’re looking for a home to live in for at least the next several years.
The primary questions you should be asking yourself right now are these:
- Can I comfortably afford the payments on this house?
- Do I qualify for a fixed rate mortgage?
- Do I love this house enough to want to make it my long-term