All Forum Posts by: Ed M.

Two things crossed my mind this morning regarding this topic:

1 - When I used to coach, I would always ask my players before big games the same questions.  "Are you nervous, and/or are you afraid"?  Then I would tell them if they said they were nervous, that's a good thing...that means they care.  If they answered they were scared, that was bad.  It meant they were unprepared.

2 - My tagline at the bottom of all my emails:

"The things that come to those who wait, are the things that are left behind, by those that get there first".

I feel your answer is a combination of both of the above two thoughts.

Well I don’t know what the highs and lows will be especially over the next 4 years but I can say with assurance The investment you passed on today out of fear will likely cost double and rates will be way higher due to hyper inflation in ten years . Waiting around hoping things change never works in anything life so Take action now ! The future doesn’t get better by hope it gets better by plan so make a plan and go for it even if your only 80% sure .Trust me fear and Doubt is very expensive

If it will be your primary residence, similar questions.  How much are you pay in rent right now vs what you'd pay if you owned.  Also you are paying down your mortgage, not your landlord's.  While it isn't always the case, in many cases the difference between rent vs mortgage is minimal.   

For me personally, I can't imagine not owning a home in part because when I retire, I don't want to have to pay for rent and I want the security of knowing I won't have to move unless I want to.

It isn't just about property values, but also interest rates.  If you find something where the numbers work, buy it now.  Why wait 10 years in case it might go down a bit when you can buy it now and rent it out?  

Figure out how much you'd make each month along with your tenant paying down your mortgage over 10 years and ask if the prices will drop by that much and interest rates remain so low...unlikely.