Is Now Still a Good Time to Buy a House?

I know that right now, there is still a lot of fear out there in the housing market. People are still afraid that they will buy their home sweet home, their cherished place of peace, privacy and solitude and domestic bliss, and they will see it dreadfully plummet in value. Well, the good news folks, is that if you buy now, there is really a lot of upside starting in the next five years or so.

And unless you are one of those people who moves as often as you change your underwear, why do you really care what your home is valued at anyways? You should view a home as a long term investment, unless you are speculator and looking to flip homes quickly – and we see where a lot of that careless speculating and financing of homes as investments got us.

I rest my case on that one. It’s not that I don’t support buying and selling homes for profit, it’s just that I only support it when a person is very educated in the risks involved, and not getting financing that is not sustainable. A lot of people who were untrained “investors” in real estate got into this risky, but also very rewarding (if you know what you’re doing), business of flipping homes, and a lot of them ended up flat broke.

However, if you are an individual looking to buy a home, or an investor with lots of capital and time to spare, then right now is probably the perfect time for you to pick up prime pieces of real estate for bargain basement prices.

As I said before, you know, it’s not like I think it feels good when I get those notices from Zillow.com that my home value has dropped again, but I also know that A. Zillow isn’t the most reliable barometer of a home’s value, and B. My husband and I bought our house because we loved it, we wanted to live there and be a part of that community, and we knew we were going to be there for a long while.

So, with those things in mind, why should we care that our home’s value fluctuates by ten to twenty thousand dollars? I know long term, it was a great investment, and we’re not looking to pull any equity out of the home any time soon. So if you go into it with that mentality especially, right now is probably the best opportunity to buy a home that you’ll be looking at for years to come.