Your landlord looked you right in the eye and told you now is not the time to buy.
“Just rent another year and the market will be better.”
LIES, I tell you. Absolute, despicable lies.
Now do you want to know why?
First of all, the best time to buy a home is when you need a home…
…AND you’re financially capable to buy one.
Right now, we’re starting to see house prices balance out (a little) as interest rates rise.
If you wait for the market to fully flip, your interest rate will be even higher.
This means that you’ll likely be paying MORE for your home in the long scheme of things AND have a higher monthly payment.
If your lease is up for renewal, you’re going to have 3 options.
1 – Renew for another year, likely being charged more per month.
2 – Rent somewhere else – also at a higher cost.
3 – Buy a home & stop paying your landlord’s mortgage.
Now I don’t know your financial situation but I have a feeling the 3rd option is your best choice.
So tell me, do you rent or own your home right now?