My last few weeks have been filled with condo walk through’s, calls with mortage companies and the accountant, real estate meetings, and weighing options. In this market, home prices are lower than they have been in a very long time which makes it very tempting to buy a home. As a first time home buyer, I am excited yet afraid to jump into this process. Everything I’ve walked through at this point has been dissapointing to say the least. I’m waiting for that moment to hit me where I say “wow, I can’t wait to put an offer down on this”- but I’m starting to think that this just might not happen. Because of the tough economy among us, it’s pretty clear that people haven’t had the money to keep these places up, at least in the price range I am searching. The few that are clean, are outdated by at least 20 years, and need equal effort only to modernize them.
Add to that an $8000 tax refund that is part of the stimulus package, for first time homebuyers that is. Which leads me to my question; When should I pull the trigger on a purchase? Buy now and get into something that I’m not sure about? Or wait and miss out on stellar mortgage rates and that refund that is dangling in front of me. Not to mention finding a new apartment if I decide not to buy. I’m not sure how to figure out what the idea home is worth to me. But I do know one thing, it’s time for a housing change one way or another and this entire processs is exhausting.
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