Why Buying A House Amid The Recession Is Actually Wise

**VikkiSmith** · 10-09-2009, 10:24 AM

With news about job losses and factory closures getting a significant airtime and newspaper space, one should wonder: Should I delay my purchase of a house?

As the country is still battling the recession, it is but normal for one to think about delaying huge investments such as buying a car or a home. Ironically, experts say that if you have any plans of getting a new home, that time is today. Why?

**markbrian** · 10-10-2009, 09:20 AM

Many people will point to the low interest rates, lower prices and outstanding inventory as reasons to buy a home. But it is a complicated issue and you must look at your personal situation long and hard when deciding to buy a home. In general, it is a great time to buy, but when you add in the factors of your personal and unique situation, it might not be such a grand idea. Or it might be a no brainer.

Start with some of the rent versus buy calculators you can find online. Decide on your budget with an eye towards worse case scenarios, such as a job loss actually happening. Talk with several lenders to see what is possible for you.

Some people will always say you should buy a home today, just as some say you should never buy a home. The decision should be yours alone, made after much research and contemplation. It appears you are educating yourself first which is always the best way to go.

**rehabhardmoney** · 10-26-2009, 10:31 PM

You're actually right,

[LIST=1][*]Property prices are down.

**Rent To Own4** · 11-05-2009, 01:43 PM

Have you thought about rent to own? If not then, rent to own is a system where you pay rent for the home you are either living in or want to live and part of your rent goes towards the deposit or down payment. I'm not sure if you live in Missouri or not but you can go to a website that can explain it better than I can. missourihomeowner.com--hope everything goes well for you!

I am not a spammer!

FINALLY THE SUN CAME OUT!
--B

**markbrian** · 11-05-2009, 06:58 PM

I have heard that only about 30% of rent to own transactions actually close, so I would suggest actually avoiding these types of transactions.

I suggest checking out out the HUD website, particularly the section about Buying a Home. This is unbiased information meant to educate and help people to avoid scams, predatory lenders, etc.

**Dan Yurdiga** · 11-06-2009, 12:45 AM

Because there are good offers and deals regarding buying properties in recession.
Many real state businessmen offers affordable real state properties and
has the quality that potential buyers are looking for.
This is the time for the home buyers to grab this opportunity.

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