TIME TO BUY? IT DEPENDS ON YOUR CIRCUMSTANCES

If you listen to the "experts" out there, it’s never a good time to buy a home. We’ve heard all the excuses: Interest rates are too high, prices are too high, inventory is too low and we’re in a housing bubble that’s about to burst. 

Sometimes I feel like I’m living in Pooh Corner, and it’s populated by Eeyores. 

Over the years I’ve heard “expert advice” from hundreds of folks, all professing to have received exclusive real-estate knowledge from reliable sources — like an uncle whose son-in-law’s sister’s boyfriend has a real estate license and occasionally sells a house when he isn’t delivering for Amazon.  

The truth of the matter is, there isn’t a one-size-fits-all answer. The decision to purchase a home, be it a first-time purchase, a move up or a downsize, depends on your individual circumstances. 

Sure, there are general guidelines: Do you have funds for the downpayment and closing costs as well as reserves? Are you comfortable with the payments (even if your lender says you qualify for more)? Is your employment stable and do you plan on staying put for a few years?

 Another key consideration — and this is a big one — is this: Is there a home that you really want? Can you see yourself actually living in that home? If the answer to all these questions is yes, then this could be a good time for you to buy.

Also keep in mind, should you opt to wait for interest rates to come down you’ll be competing for your dream home when all the Eeyores jump in. So let them sit on the fence, tip your toe in the market, get qualified and start building equity.