Do I buy now or later?

Do I buy now or later?

Do I buy now or later? 

One of the most frequent questions from potential property buyers is no doubt, “do I buy now, or do I buy later?” Let’s explore the advantages of purchasing property in this current economic market and the disadvantages of holding back and waiting for better interest rates, better market prices or even (possibly) another housing market crash.

In my professional opinion, I do not believe another housing market crash is imminent We now have a number of credit regulations in place to assist with curbing against over-lending, “reckless” lending, and to help regulate the amount of debt that an individual is able to obtain in relation to their income, etc.

Furthermore, we currently don’t have an excessive supply of inventory, being houses on the market and many sellers are not under great financial pressure to sell. There are a few other variables that can influence or help to cause the market crash, however, these two are the primary drivers that we are informed of. 

My take on residential real estate - bite the bullet now. We are currently experiencing a buyer’s market. Buyers who know how to negotiate well, will undoubtedly be rewarded with good deals in any economic market.

You can take advantage of this current market and get more for less. Alternatively, you could wait for the market to change, which always brings its own challenges. However, there is no doubt that the prices will eventually start to strengthen and increase as the interest rates begin to decline.

So, it’s really “choose-maz’ khethela” - which one is it for you? Get more for less now or less for more later, but with a little bit more security? After all…life is sometimes a gamble.

Keeping in touch.

Ms. Lerato Mokgosi