Hi Free will ,You raise a really good point . It can be hard to...

Hi Free will ,

You raise a really good point . It can be hard to pick the ' right ' time . Just like trying to pick the top/bottom in the stock market . Too hard imo.

If your buying real estate for the long term , either for investment or ppor , it doesn't matter if you overpay a little bit. If you look back at a property that you bought 10 or 20 years ago , and compare that to today's valuation , then it helps you to decide if it is overvalued.

Even if you buy a property and it dips by say 5% for a year or two , it doesn't really matter if you intend to hold it for 20 years . If you were looking to only keep it for a couple of years , then I would agree with the caution .

When we are in a real estate market where houses are selling in 7 days and auction prices are going way above quoted then I would agree that you could pay too much .

I wouldn't say that we are in one of those markets yet however I certainly can't speak for your area .

Probably , because of your personal situation it might be worth waiting a little while . Not so much because of the prices but more because you don't want to buy the wrong type of property for yourself.