Everyone knows that a home is the single most expensive and important thing most people will ever purchase. In addition, paying off a home loan can take as long as forty years and will involve paying an amount of interest that exceeds the cost of the house itself. It’s not a secret that I want to sale my house and move really bad! Let’s face it; this is a buyer’s market, if you have the money! U.S. mortgage rates are the lowest in at least four decades, with a 30-year fixed loan available at just 4.09%. However, with the economy and the housing crisis I’m not having any luck. Plus let’s be honest I really don’t want to be making two house payments. The value in my house keeps dropping and with a few homes on the street in foreclosure it’s not helping my situation. I keep finding my “dream home” now for the fraction of the cost.
My father has worked in real estate his whole life and advised us to hold out on buying when we did. However, we didn’t listen all we wanted was to be first time home owners. I actually like my house but it’s the land and area that I don’t like anymore. Now that I am older I want a place where I see myself growing old in. I understand now what people mean when they say buying a house is not something to be done without a lot of forethought. Today as I was browsing online I seen some say home prices are expected to drop 2.5% this year and rise just 1.1% annually through 2015!
So now I get to hear my father keep saying “I told you so.” ” I have been in this market for 40 years; I know what I am talking about”! Just great!
So my question of the day: Has anyone been able to luck up and sale your home for an upgrade?
Been in my home for over 25 years.. I would love to move to a bigger home. with the high price of homes.. not worth investing another higher mortgage. I like my neighbor, it’s the county taxes that are killing us.. and the water rate of 67% increase.. if I moved I would have to see if I could support the taxes and monthly bills