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If we are not in a real estate bubble than we are pretty close to the top of the home
prices in the real estate cycle. Should you buy a home? Making the right decision is about
proper strategy , planning and execution. I am going to talk about how to come out a
winner in a real estate bubble.
Location. Buying a home in desirable area is less likely to decrease in value because
people will always want the amenities that makes the area special great schools, restaurants,
low crime, walkability, tax rate, and accessibly to jobs.
Diversify. You should not use all of your savings for a down payment but your home purchase
should be part of your investment strategy. Buy For the long term. If you are planning
on having kids make sure you purchase a house with the appropriate amount of bedrooms for
the future. Think Long Term Financing. Don’t get tempted
by the low rate adjustable rate mortgage get a low fixed rate. Over time inflation will
be your friend with a fixed rate mortgage because your mortgage payment will be the
same while everything else will increase making your mortgage payment seem less.
5. Do Not Be Scared of Renting. It is better to over pay for one year of renting than thirty
years of a mortgage.
If you have any mortgage or real estate questions please subscribe to my Youtube channel or
contact me directly.