So my husband and I were planning on buying a house this year. Preferably before October. We have the down payment as of now, but haven’t shopped around for our banker/interest rates yet. (Were planning to middle of March, but we all know what happened with that..)
Things are going downhill fast in terms of the economy, obviously. Our initial thought was that, after this covid-19 business has died down, interest rates will be low and it will be a buyer’s market. But then we worry about selling in 4-6 years.
What are the possible pros and cons to buying this year? Should we just wait another year? Or will things not be any better in a year and it won’t matter?
I understand this is all speculation and we won’t know what’s going to happen, but any advice/thoughts on this are appreciated!
Edit- since it’s come up a lot, my income is secure. I have a job that’s not going anywhere. We’re buying on just my income, too. So husband’s income will be towards living expenses/savings.