All Topics / General Property / Is now a bad time to buy ?

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  • Profile photo of Tommy15Tommy15
    Participant
    @tommy15
    Join Date: 2013
    Post Count: 0

    Hi, we are looking to buy a family hone on the sunshine coast qld,

    i keep hearing mixed answers whether to buy now or wait due to rate increases, world events etc.

    There is still high demand in area, so unsure as to whether prices would actually fall over the next year or 2 like “experts” predict.

    Wondering peoples thoughts who know alot more about the economy situation than myself ?

     

    Profile photo of E.Baker78E.Baker78
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    @e-baker78
    Join Date: 2022
    Post Count: 0

    Hello Tommy,

    My personal opinion is that there will always be conflict about these topics. Some people act like they know how the market will act for sure, others just like to talk. None of us have predicted Covid, or the war between Russia and Ukraine, and the list goes on. If the area is high demand, it is very likely that prices will keep going up. And I never heard anyone being upset with their property investment, in the long run you always win.

    Profile photo of sampson_701sampson_701
    Participant
    @sampson_701
    Join Date: 2013
    Post Count: 20

    Its always a good time to buy a good deal, just need to find them.

    Everything is generally pretty hot right now. I’m not buying as I feel things will cool off with rising interest rates and mortgage stress. I’m looking at the possibilities of a global recession though and seeing what deals that brings.

    Profile photo of HomeBuyerLouisianaHomeBuyerLouisiana
    Participant
    @homebuyerlouisiana
    Join Date: 2020
    Post Count: 17

    Its very hard to time the market. I think a deal is a deal no matter what is happening on the market. As long as you aren’t banking on appreciation in the short term or something market related to happen for your deal to work then you will do fine. You know what they say, don’t wait to buy real estate, buy real estate and wait

    HomeBuyerLouisiana | Home Buyer Louisiana
    https://homebuyerlouisiana.com

    Aussie entrepreneur investing in New Orleans houses

    Profile photo of mannas34mannas34
    Participant
    @mannas34
    Join Date: 2022
    Post Count: 0

    Deciding whether to buy a home is a personal decision that depends on a variety of factors, including your financial situation, your long-term plans, and your risk tolerance. It’s not possible for anyone to predict with certainty what will happen to the housing market in a particular location, as it is influenced by a range of economic, political, and other factors.

    Here are a few things to consider when deciding whether to buy a home:

    Affordability: Make sure that you have the financial resources to afford a home, including the closing costs, and ongoing expenses such as property taxes, and maintenance.
    Market conditions: Consider the current state of the housing market . If demand is high and prices are rising, it may be a good time to buy. However, if demand is low and prices are falling, it may make sense to wait and see if prices stabilize or decline further.

    consult with your tax accounting firm: While your audit & tax accounting firm can provide you with valuable advice on a range of tax-related matters, Buying a home is a major financial decision that involves many factors, such as your financial stability, your long-term plans, and the local real estate market.

    • This reply was modified 1 month, 2 weeks ago by Profile photo of Benny Benny. Reason: Remove advertising
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