Geoff, A house is a big investment, and all of the factors must be considered. Where you want to live is one thing, but whether you can afford the price in that area, is quite another. One has to think "compromise" and find a satisfactory medium. That is unless he is a lucky fool that hits the lottery, but that has a one to 15 million chances of happening.
In 2, or 3,years, the real estate situation could be totally different than it is now. I figure that one needs to look, decide, and make a move, within 6 months. Personally, I prefer a house that is in very good condition, but is over 20 years old. Contractors knew how to build them solid then, but today they just throw up any old pile of trash that looks good from the outside, but might fall apart in 10 years, or less. When looking at a house, always have a stud finder, and a measurer of some sort, along with you. 16" center to center, is the proper distance between studs, and some sellers will cheat on the room sizes.
All that finance companies want is as much interest they can bleed you for. And I mean "bleed" in the strictest way. |
