What do you think about buying a home right now?

[pete6032]

Before all of this coronavirus stuff happened, I made an offer on a house and it was accepted. Inspection came back, house is in good shape. We are currently renting and this would become my primary residence. Have the money for a 30% down payment lined up (in savings account), mortgage rates are low. We could back out now having only lost a bit (earnest $ plus home insp fee). My job seems relatively stable and so does my wife's. We anticipate living at this place for 5-10 years. Do you think it is a good idea to buy now or not? The home is a middle-income home (not a luxury home).

 

[Red Squirrel]

I'd say it's probably a good time if you have the cash for down payment and other costs and as long as you have a stable job that is not likely to lay you off. Just don't cash any kind of money that is based off stocks. (investments etc)

 

[highland145]

DO IT.

 

[nakedfrog]

I hope it's a good time, I need someone to buy mine!

Yeah, it's only been on the market three days, I should probably chill 😛

 

[VirtualLarry]

Should have invested in a Villa in Columbia. No, not the District of Columbia. The country.