You touched on the "wait and they may be 10% cheaper or $30k give or take a few bucks.
This may well be the case in 12 months time.
Then again it may not.
Really depends where your looking to buy and which property.
Lets say for arguments sake the house you want to buy now is $30k cheaper in 12 months time.
Consider some things......
what will interest rates be in 12 months time? will the fhog be the same amount? will fixed rates be more or less? will it be easier or harder to get finance? will there be more buyers in 12 months time than now?
Lets look at the interest rate.
lets say in 12 months from today rates are 2% higher.
On 300k thats about $7500 p.a
So you could buy now, fix the rate and in 4 years time be square on the 30k u saved by waiting.
So guess what im getting at is......why wait? Another thing........if it drops 10% in the next 12 months then goes up in the next 24 months, your going to be clse to square anyway not even considering the inetrest savings.
Also you would have paid off some of the mortgage although agree very little.
But u would have the rate u want, lowest ever in Australia.....the rate u want, perhaps fixed, but more importnant tly the house u want.
if i found a house right now and in 12 months time in was 10% cheaper i would have to question whether it was a good investment or not.....just a thought.
You want to be buying property in areas that will provide growth.....and belive me there are areas out there, even if he bears tell u otherwise.
Time in the market is the way to go.......not trying to time the market.
