Currently spending ~2500 on small 1bed in luxury rental building in Seattle. Is the RE Market expected to drop any time soon? Wondering, given current housing market conditions in Seattle, if I should keep renting or buy a condo in/around Seattle. Have some $ saved up for down payment already.
With only 3% down and current rates, you would be paying about $2700/month on a home/condo up to 500K. Market is already slowing, redfin is just cranking out price drops daily on homes under $1M.
Buy one.
Google "NY times rent or buy calculator"
Only buy if you have kids. They are expensive to maintain, limit your future pay due to being tied to one location, and you will likely change houses in the next five years making it a bad investment.
Buying for investment? Ehh. Buying for yourself and future family? Worth
I would say buy now and keep it forever. Become a future landlord
It’s quite obvious the crucial thing for RE is location. RE in a decent location is a limited resource with the price that always goes up. Buy close to the major employers and own it forever.
No one know obviously. If you plan to live there for 5+ years always a good time to buy (and better now given rates)
Thanks all, consensus seems to bias towards buying now/soon! Plan to read more in to prediction of RE market as well for additional insight.
Buy a mountain House. Then rent it out.
Too much time coz of daylight savings? Been spamming every post
Coffee tastes bad. Just waiting to fall asleep again. You?