I’m not a parrot, I’m a Charlotte NC Real Estate Broker and REALTOR®. If you’re looking for a parrot, keep looking. That’s the beauty of having thousands and thousands of other Charlotte NC area agents – you have a choice.
So I’ll say it again, if you’re looking for a parrot, keep on looking.
Now is NOT a great time for every single potential buyer to purchase a home! There’s absolutely no way that right now is the right time for everyone. It’s a personal question and will have a different answer based on your individual circumstances. For some, now is the right time to purchase a home, for others the “right” time may be some point in the future.
In my personal and professional opinion, a much more appropriate question is:
Is Now the Right Time For Me to Buy A Home?
Notice the difference? Instead of a statement that applies (supposedly) to everyone, the question addresses the individual circumstances that are an integral part of the decision to buy a home.
If you’re living paycheck to paycheck, have no savings set aside, are past due on your monthly obligations, are carrying a lot of credit card debt (or paying for living expenses with credit cards out of necessity) now is not a great time to purchase a home (or a larger, more expensive one than your current place!).
Also, if you currently own a home but have refinanced all of the equity out of it and don’t have savings set aside for a downpayment on the next home, now is not the time to consider a move-up purchase. If the goal is to purchase a move-up home, now may not be the right time for you to buy but it is the right time to start planning and preparing.
If you’re not ready to buy right now but are serious about purchasing in the future, now is the time to plan and prepare yourself and your finances so that when the time is right for you, you’ll be ready and qualified to buy a home.
Notice that current inventory, pricing, time of year are not a part of this question. There are challenges and opportunities in every single type of market (buyers,sellers, or balanced market conditions).
None of that makes a single bit of difference if now is not the right time for you to buy a Charlotte NC home. There could be tons of houses that meet your needs on the market right this second but that doesn’t matter at all if you’re not ready, willing and able to buy them!
Copyright©2008 by Diane McDermott, All Rights Reserved, “Is Now A Good Time To Buy? It Depends!”