ericlp
Diamond Member
- Dec 24, 2000
- 6,137
- 225
- 106
Well, it all depends....
How much does the home cost? If it's less then 30,000 bucks ... If it took a 10-20% more hit in the next year is it really worth to save 3-6,000 bucks?
Next question is.... How much rent are you paying now? Do you have enough to buy the home out right? If your paying rent are you saving money to put down on your down payment or is most of it going for rent?
Next... Have you found the perfect house already for you? Big enough, right area, fits your needs mostly... If you wait, you could lose out on the home of your dreams to someone else.
I am no real estate agent. Tho, I have bought and sold plenty of homes in my life time. They key is getting it paid off as quickly as possible. Obviously you want to buy outright with no mortgage if possible.
My advice is LOW BALL - See what they will take, since, if you get 40% off now, even if prices jumped to a 20% hit your still pretty safe. If your buying from a bank. You can expect to see a home go for 30-50% off --- Personally I have seen this. Wanted 25K, and took 12! sheesh! Cash talks and when your buying homes that cheap, banks won't loan money less then 50K (so I've been told) so, it's hard to find people with 20-30K in cash waiting around to buy a home.
Good Luck!
How much does the home cost? If it's less then 30,000 bucks ... If it took a 10-20% more hit in the next year is it really worth to save 3-6,000 bucks?
Next question is.... How much rent are you paying now? Do you have enough to buy the home out right? If your paying rent are you saving money to put down on your down payment or is most of it going for rent?
Next... Have you found the perfect house already for you? Big enough, right area, fits your needs mostly... If you wait, you could lose out on the home of your dreams to someone else.
I am no real estate agent. Tho, I have bought and sold plenty of homes in my life time. They key is getting it paid off as quickly as possible. Obviously you want to buy outright with no mortgage if possible.
My advice is LOW BALL - See what they will take, since, if you get 40% off now, even if prices jumped to a 20% hit your still pretty safe. If your buying from a bank. You can expect to see a home go for 30-50% off --- Personally I have seen this. Wanted 25K, and took 12! sheesh! Cash talks and when your buying homes that cheap, banks won't loan money less then 50K (so I've been told) so, it's hard to find people with 20-30K in cash waiting around to buy a home.
Good Luck!
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