Thinking of buying a sfh of around 2500-3000 sft in bothell around canyon park temple area. Looking at the market it seems like a correction is underway. Wondering if I should wait it out for few months ? Lot of inventory sitting there with homes listed 30+day ago still on market and multiple price drops. Oh and we have a 3 year outlook and would like to sell before moving. Thoughts ?
Yes price will drop. Wait for 20 years. Rent for 20 years while waiting and then go bankrupt
Why 3 year? Rent if you are not sure of long term, atleast 5 years out. Selling itself will shave off 6% and no guarantee you have equity at that time. But long term market like Seattle will do well.
Well I did the math on Rent vs buy and turns out if the market appreciates 4.5% or more every year for 3 years I would break even. Why 3 - have plans of moving to a different place. I can probably rent out my property when I move but with a downturn it would just be bad investment. Why not just rent - well wanted to live in a bigger house than a 1000sft townhome (:
If you are on L1-H1 and worried about that, then I will say make best decision regardless of visa. If things happen so be it, buy and hope for the best. If you can afford to rent it out at time of moving, then for sure buy. Don’t get into a situation where you are forced to sell. My 3 cents 😊
Thanks for your responses @nostalgic - I am just worried about an immediate (within next few months) downturn
Abe oh lodhu...do you even know what you are talking about...
Yup. Rumored layoff at Amazon.