Thinking of buying a home, but feel bewildered by conflicting reports about the state of real estate? Well, you’re certainly not alone, but in a word, relax! Whether or not real estate is up, down or sideways, most people don’t make their purchase decisions based on market conditions. Rather, it has more to do with lifestyle.
For most folks, a home is very much like a “durable good,” similar to a washing machine. Sounds silly, but think of it this way: When you need a new washer, your decision is based upon that requirement, and you search for a machine that offers good value and service. You don’t think about whether the price of washers will be going up or down in the coming months or years.
You can have greater peace of mind when your purchase is made out of necessity and not out of a desire to turn your property into a cash cow. You get the greatest value out of your home by simply living in it, and as long as you can continue to make mortgage payments, you run little risk of losing on your investment.
Speaking with a local real estate agent is a great place to get the ball rolling, so that you can learn about local market conditions and prices. Armed with knowledge, you can move forward and move in!
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Note:This article was originally published on this site on July 28, 2016. The text has been updated for grammar and accuracy.