How to Stay on the Real Estate Beam
July 17th, 2008 categories: Fairfield, Ohio, For Buyers, Liberty Township Ohio, West Chester Ohio
First time home buyers looking at homes in Liberty Township wanted to know if they were making a good investment.
Fair question- unfortunately there isn’t a straight forward answer.
If the only reason for purchasing property is to sell it for a monetary gain- there are no guarantees.
Buyers need to step back and take a balanced approach to purchasing property.
Learn to think like a gymnast approaching a balance beam.
Everything has to be in balance or the results can be disastrous. If you thinking about jumping into the housing market ask yourself the following:
- If you are purchasing (rather than renting) because you want a fixed payment (knowing that property taxes/condo fees are not fixed)
- Tax deductions- you have looked at the mortgage interest deduction and will come out ahead with a mortgage vs rent payments
- You aren’t terrified of home maintenance- or can afford to pay to have needed repairs completed
- You are ready to call someplace “home” and need more space
- Knowing that if you purchased today and then sold the property in 3 or 4 years and broke even financially- you would still feel like it was a good investment?
If you answered yes to all of the questions- then you are probably ready to consider buying real estate. However, if you have been watching late night infomercials touting how smart investors are making a gazillion dollars in today’s market and you are positive that you are the next one to strike it rich- maybe you should delay buying.
Buyers using a balanced approach, taking one step at a time on the real estate balance beam, usually end up winners.
Whether you are a first time buyer or move up buyer – once you have decided that buying property makes sense for you-take smooth even steps across the
real estate balance beam.
Questions -or if you need a “coach” call or email.
| Discussion: Comments Off
Both comments and pings are currently closed.
Wow, doesn’t sound too promising there. I thought your area went through a correction recently and the going prices were supposed to be pretty good.
Jim,
While our area never experienced the double digit inflation on housing- we are feeling the effects of bad press from other parts of the country. Pricing, as always, is critical.
How is it in your area?