Why Buying Less is Often More
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Peter Diamant
Apr 4, 2013, 7:00:08 AM4/4/13
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Peter Diamant
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Article Title: Why Buying Less is Often More
Author: Peter Diamant
Word Count: 539
Article URL: http://www.isnare.com/?aid=1268974&ca=Real+Estate
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1268974
Easy Publish Tool: http://www.isnare.com/html.php?aid=1268974
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At parties and other social events, after people exchange information about their families and where they live, the conversations typically drift toward �what do you do for a living?� After I reveal that I am a realtor, I am usually asked a question which I am sure every other real estate agent gets asked in similar circumstances: What�s going to happen to real estate prices next Spring/ Fall? Will it be a good time to buy?
The truthful answer is � I don`t know. In fact most people don`t know � not economists, statisticians or real estate professionals. There are simply too many variables that affect the housing prices. From local influences to fallout from political and economic events happening elsewhere in the world. At best, all they can do is predict longer term trends. In all honesty I cannot tell you with any degree of certainty what`s going to happen to prices for instance in your neighbourhood in Richmond Hill at precisely the point in time when you want to sell or buy. But I do have a response which I believe is very responsible. Buy at a time that is the best time for yourself, that best fits your personal circumstances. Go ahead with the transaction if:
a) Your personal situation is stable or at least somewhat predictable.
If you hate your boss and are thinking of changing your job would not be a good time to buy. One major change in life is probably stressful enough. As well, you want to focus on your job search. After you have established yourself at work, then by all means take the plunge.
b) b) Your finances are in good shape.
As with most of us, one`s finances could always be better at any point in our lives but the basics should be in place:
- a predictable income with some degree of stability.
- reduce or if possible eliminate your existing debts before you take on a mortgage.
- ability to put down a substantial deposit.
All that with the objective of making your monthly payments as small a proportion of your monthly budget as possible. The overall objective is to make yourself as `financially resistant` to what life can throw your way as possible.
You will be grateful for your financial conservatism in the future when the novelty of owning a house has long worn off and other priorities have become more important. For example, and these are all cases that I have encountered over the years: on the personal side, an unexpected medical expense, illness of an aging parent, your children`s school or after school activities expenses. On the economic side, a rise interest rates resulting in higher monthly payments, sudden increase in commuting costs � newly installed road tolls, an increase in gasoline prices due to world events, increase in cost of public transportation.
Opting for a more modest home at a lower price with a larger disposable income that will allow you to live a lifestyle of your choice, with as little financial stress as possible is my best advice on your real estate purchase.
About The Author: I am a realtor affiliated with Sutton Group-Admiral Realty Inc. and specialize in the sales and purchase of homes and condos in Richmond Hill. For more information please visit http://www.buysellyorkregion.com/
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=1268974
*********************** ARTICLE END ***********************
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Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
Peter Diamant
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=1268974
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=1268974
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Why Buying Less is Often More
Author: Peter Diamant
Word Count: 539
Article URL: http://www.isnare.com/?aid=1268974&ca=Real+Estate
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1268974
Easy Publish Tool: http://www.isnare.com/html.php?aid=1268974
*********************** ARTICLE START ***********************
At parties and other social events, after people exchange information about their families and where they live, the conversations typically drift toward �what do you do for a living?� After I reveal that I am a realtor, I am usually asked a question which I am sure every other real estate agent gets asked in similar circumstances: What�s going to happen to real estate prices next Spring/ Fall? Will it be a good time to buy?
The truthful answer is � I don`t know. In fact most people don`t know � not economists, statisticians or real estate professionals. There are simply too many variables that affect the housing prices. From local influences to fallout from political and economic events happening elsewhere in the world. At best, all they can do is predict longer term trends. In all honesty I cannot tell you with any degree of certainty what`s going to happen to prices for instance in your neighbourhood in Richmond Hill at precisely the point in time when you want to sell or buy. But I do have a response which I believe is very responsible. Buy at a time that is the best time for yourself, that best fits your personal circumstances. Go ahead with the transaction if:
a) Your personal situation is stable or at least somewhat predictable.
If you hate your boss and are thinking of changing your job would not be a good time to buy. One major change in life is probably stressful enough. As well, you want to focus on your job search. After you have established yourself at work, then by all means take the plunge.
b) b) Your finances are in good shape.
As with most of us, one`s finances could always be better at any point in our lives but the basics should be in place:
- a predictable income with some degree of stability.
- reduce or if possible eliminate your existing debts before you take on a mortgage.
- ability to put down a substantial deposit.
All that with the objective of making your monthly payments as small a proportion of your monthly budget as possible. The overall objective is to make yourself as `financially resistant` to what life can throw your way as possible.
You will be grateful for your financial conservatism in the future when the novelty of owning a house has long worn off and other priorities have become more important. For example, and these are all cases that I have encountered over the years: on the personal side, an unexpected medical expense, illness of an aging parent, your children`s school or after school activities expenses. On the economic side, a rise interest rates resulting in higher monthly payments, sudden increase in commuting costs � newly installed road tolls, an increase in gasoline prices due to world events, increase in cost of public transportation.
Opting for a more modest home at a lower price with a larger disposable income that will allow you to live a lifestyle of your choice, with as little financial stress as possible is my best advice on your real estate purchase.
About The Author: I am a realtor affiliated with Sutton Group-Admiral Realty Inc. and specialize in the sales and purchase of homes and condos in Richmond Hill. For more information please visit http://www.buysellyorkregion.com/
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=1268974
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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