Quote:
Originally Posted by MichiganMat
...If you had money to put down right now, and you had recession proof employment, would you buy a house right now or would you wait 6 or 9 months?
|
One always needs a place to live. Neither prices or interest rates are likely to increase over the next year, so personally, I would begin the search, but be very picky locating the "right" for the "right" price and don't be in a hurry. I don't know how the lender's are right now, but I purchased my first house with only 5% down. You might consider limiting yourself to that amount (if possible) and keeping the rest on hand as a "reserve" for a worst case scenario. MOST importantly, buy something that is "within your means"...if that's even possible, considering your location. Good luck!