When is the right time to buy a home?

With reports of a busted market or soon to get even worse market. Is there ever a right time to buy a home? The answer is no. There is never a right time other than right now. If it is a ‘sellers’ market people are always saying “this can never last”, and did so for most of the late 1990’s and early 2000. Now those same people are saying to wait and hold out for the market to go bust. The problem with this thinking is that nobody knows where the bottom or top of the market will be. Today buying a home is looked at as a way to make money, reverse thinking of the fact that we make money to buy a home. A home is a place for you to live, raise a family and over the long term make money on appreciation, realize tax benefits and save by not paying rent. If you look only at the present situation of the housing market and not at the long term there will never be a right time to buy.

Real estate goes in cylces; there will always be ups and down. Your best situation will always be to hold onto your home for a long time and not sweat the minor ups and downs of the market.

Look at the cost of a 4 bedroom home in Pleasanton 30 years ago. That is now the price you pay for a car! Imagine buying a home for $700,000 today and holding it for 20-30 years. You will be worth millions.

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