J
java2go
Guest
I see others have asked this same question, but not in the same situation as me.
Pros:
Lots of homes to choose from. Interest rates are still good. If I buy before July 1, I can take advantage of the $7500 first-time home buyer credit (realizing that I do have to pay back over 15 years). I have lots of money saved up - the price range I'm looking in, I figure I can put around 26% down for a down payment yet still keep a nice cushion left in my checking/savings combined. I have a stable, full-time job with good benefits. Even in the case something bad were to happen, there a lot of jobs in this area with my skills. Oh yeah, and I plan on staying in this area. I may be single, but so far a husband isn't even close to being on the agenda. I have crunched the numbers and once my car loan is paid off, which I should be able to pay off early with the help of the $7500 (in 3 years instead of 5), I figure I should be back to having a monthly "savings" (income-expense) of more than I do now.
Cons:
The economy -- despite my good, financial situation, people tell me I should still wait -- at least until after the election, maybe longer. I'm in Madison, WI, by the way, one of, if not the highest, priced area in our state, but not nearly as bad as CA or anything.
What does everyone else think?
Pros:
Lots of homes to choose from. Interest rates are still good. If I buy before July 1, I can take advantage of the $7500 first-time home buyer credit (realizing that I do have to pay back over 15 years). I have lots of money saved up - the price range I'm looking in, I figure I can put around 26% down for a down payment yet still keep a nice cushion left in my checking/savings combined. I have a stable, full-time job with good benefits. Even in the case something bad were to happen, there a lot of jobs in this area with my skills. Oh yeah, and I plan on staying in this area. I may be single, but so far a husband isn't even close to being on the agenda. I have crunched the numbers and once my car loan is paid off, which I should be able to pay off early with the help of the $7500 (in 3 years instead of 5), I figure I should be back to having a monthly "savings" (income-expense) of more than I do now.
Cons:
The economy -- despite my good, financial situation, people tell me I should still wait -- at least until after the election, maybe longer. I'm in Madison, WI, by the way, one of, if not the highest, priced area in our state, but not nearly as bad as CA or anything.
What does everyone else think?