Am super confused..as you saw in title i am planning to get town house for my big family..and just start to learning about real state and purchasing home process and need your opinion:) Current rent 2200 | Saved for Down payment :50k Or wait for a year til my lease end and double my saving for Down payment Northern Virginia Area
I can lend you 50k, buy now
Thanks...Bitcoin?
Wait for a year. Housing market will crash and for $100k you'll buy a neighborhood with all people living there.
Living in the Bay Area, when I look at posts with these down payments, I shed a tear.
His 2.2k rent isn’t terribly low
I dont go out or travel much
Housing in the future is never a guarantee. Buy now.
Wait till next summer, market is a little unstable.
Terrible advice So let it become stable in summer so that everyone is again and in market
You can buy how real estate investors buy. Look for a fixer upper and under bid. Buy at a 20% or higher discount . Get a 203k loan - that will bake the rehab into the loan. If the market dips, you will be better insulated.
Now.
Buy now with heloc if you can afford it. This will ensure you have 20% down
20% of the value of the house is minimum for down payment.
Where
Northern Virginia