4 reasons to wait until 2025 before buying a property

4 reasons to wait until 2025 before buying a property

My advice when it comes to buying a property is a simple one. Buy something you need and can afford comfortably. Else, it’s perfectly find to keep renting a property you feel comfortable with and you could afford the rental comfortably. It would be foolish to buy a property and struggle to pay the monthly mortgage but it would be super foolish to rent a home which we are struggling to pay the rental every month!

Think a little further yeah. Are we spending the limited monthly salary wisely? So, is it the right time to buy a property now? What are the reason which we should consider if we intend to wait for a better time to buy? Here’s one about the US property market from finance.yahoo.com first. The writer is arguing that it may be better to hold on to the decision of buying a property to 2025 because of a couple of reasons. Read on.

Article in finance.yahoo.com According to the National Association of Realtors, the median sales price of existing homes rose to $419,300 in May of this year — that’s almost 6% higher than they were a year prior.

Regardless of which source you use, or whether you prefer medians over averages, one thing is for sure: Purchasing a home — and the cost of living in general — has never been more expensive.

It’s not just home prices that make it so hard to afford real estate. Interest rates, insurance premiums and property taxes are also key factors contributing to the excessively high cost of homeownership.

If you’re thinking about buying a home, some experts suggest waiting for a few more months for a few reasons. Reasons include the following: Interest Rates Could Come Down and There Could Be More Inventory too. As usual when more supply comes into the market, prices may come down. Article in finance.yahoo.com

Malaysia is not an advanced property market, not yet (that’s why it’s so attractive)

I am leaving Los Angeles soon and I intend to write a few more articles on the property market here too. It’s good to learn what’s happening in a property market which is more advanced than Malaysia. They can say to us, ‘been there, done that.’ So, we can say, ‘let me learn and I am willing to learn too.’ Sometimes, if we think from another perspective… who benefits more? The teacher or the student? The coach or the players? Happy learning and applying.

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