The rollercoaster in the financial markets has Boston home buyers questioning their decisions. Can they afford the home they want if they lose their jobs? Is the real estate market a safer bet than the stock market right now? Will Boston real estate prices fall or is this what they experts mean when they say “buy low?” Should we buy or watch from the sidelines?
Well, there are a lot of reasons to buy and there may be quite a few to stay out of the market, depending on your personal situation. Do you have 20 percent or more to put down on the property and have solid credit? Will you be comfortable with the month payments if you or your significant other is out of work for 6 months? Will you live or lease out the home for at least 2 years? If so, dive in! This is the market for you. In this market, where the pool of buyers has shrunk significantly due to stricter mortgage regulations, buyers with cash and strong credit can find fantastic deals. Inventory is low, as many sellers who do not need to sell are either staying put or leasing their homes. There are still plenty of deals to be had so don’t let this opportunity pass you by.