buy now or wait?

[Sebastian Roy]

Hello everyone,

  I am currently looking to purchase my first multifamily to house hack but am a little bit concerned with the high prices. One property in particular is $15,000 above my max pre approval amount and is just about turn key. I have approximately $70,000 cash which would allow me to put a good chunk down to make the monthly payment affordable, once rented ($330 before utilities) but my main concern is the home prices. 

I'm looking to purchase within the next year and I'm leaning towards buying now instead of waiting because I don't see much of a drop in the home prices or amount of competition in the near future which I would believe would allow home prices to keep rising, but I also feel we might be in a bubble and home prices must fall eventually? But... nobody knows when.

    BTW, I do not have much knowledge of past events or economics so I'm just stating my thoughts.

Thanks for the advice!