When is the right time to buy property?10/4/2016
When is the right time to buy property?
This is a question that agents try and answer day in and day out, 99% of the time the agent will tell their client "TODAY is the best day!" Well of course, real estate agents are salespeople. You don't see a commercial trying to get you to come buy products next year do you, sales is a "sense of urgency" business. We want you to buy now, not next week, not tomorrow but now. There's a saying in sales, "there ain't no pity, in be back city" which pretty much means when a buyer says "I'll be back" you can go ahead and expect to never see them again. I'll regress and now focus on the question at hand...
When is the best time to buy? Well ladies and gentlemen there is no best time to buy property and it's always the best time to buy property. What I mean by that is there is never a perfect time for anything in life, you have to make it. People spend so much time waiting on the perfect time and miss so much in life, from buying properties to taking chances they are scared to take. Lets be honest, as much as we would like we aren't all out here buying property once every couple months and are completely comfortable purchasing such a large product. With that being said, fear I believe is the #1 reason people are always falling back on that "I'm waiting on the right time" spill. Yes, there are better times to buy than others; prices are up or down, interest rates are high or low, the money in the bank is too low or needs to stay there and endless amounts of other reasons. There are always so many reasons not to do something, so my advice is you have to make the "right time".
The right time to buy a piece of property is when you have your finances in order and are able to purchase. You are never going to get the perfect interest rate, you're never going to find the perfect price, or neighborhood and home together. To be clear, there is no perfect home for you, let's say you have a blank check and are going to build a home. Guess what, something will still go wrong and it won't be 100% perfect. Now you may think you have found the perfect home, but 9 times out of 10, it's out of your budget. We all want what we can't have, even if you take that same home and put it in your price range you would find things wrong with it you didn't realize where there until you could afford it. Funny how that works.
My point is this, you have to take a leap of faith to a certain extent when buying property at anytime. That's real estate. Now yes, there are better times to buy than others but if you wait around on interest rates you may lose a good home. Maybe you wait on prices to go back up to sell your home for a higher price, well guess what, the house you will buy has also gone up in price. Very seldom does everything line up just perfect in a purchase of property and waiting around only adds to the anxiety and stress that goes along with buying real property.
“At the end of the day, let there be no excuses, no explanations, no regrets.”
― Steve Maraboli, Life, the Truth, and Being Free