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bubblesitter
@
2011 Aug 23, 11:42pm
Option A) is my choice cuz you are not overextending and that seems to be low end market that may not correct that much anyways.
joshuatrio
@
2011 Aug 24, 1:09am
I'd rent till next year. Then re-evaluate.
All housing price indicators point down, so I see no reason to jump into being a debt slave.
Is that option C
0.67x or
2x - 3x?
If the latter, of course buy now if you can own your house for the equivalent of 4yrs of rent
If the former, then either (A) or (C). Condo's may face difficulty being unloaded in the next few years as condo purchase may become cash-only market in the next few years.
My humble opinion, of course, as always.
Comments 1 - 4 of 24 Next » Last » Search these comments
I'll be needing a house in about 4 years for a family. Currently debt-free. Should I...
A) Buy a house now at 2.5-3x my yearly income. 10% down payment. Keep this house for the long run.
B) Buy a condo now at 1.5x my yearly income. Sell in four years and then Plan A). 20% down payment.
C) Continue to keep renting for four years; all together, .67x my yearly income. Would allow for A) and B) reevaluation after the year lease.
What do you think? Can give more info if needed.
Edit: Edited C) value. Added info.