The best time to buy a home is …
12/18/2015 | Author: Ward Lowe
Do you like spreadsheets?
My wife does, and she uses them to help us with all manner of decisions. She lists any data point that’s relevant to a topic. If it’s planning a vacation, there will be tabs for different destinations and columns with flight, rental car, and hotel costs.
You should’ve seen the spreadsheet for our house-hunt. It was a work of art.
With the help of our REALTOR®, my wife listed what we had for a downpayment, what interest rate we could expect for a mortgage loan, how much closing would cost, what the taxes would be, and every other expense associated with the purchase.
It presented a clear picture of what we were getting into. She would plug in the sales price of a house we liked and—boom—out came our estimated monthly cost of buying that property.
For a while, every house we fell in love exceeded our budget. So we waited. We added to our downpayment, shopped around more for a mortgage, and eventually the numbers worked out for a place that we still call home 13 years later.
The best time for us to buy a house wasn’t when we started looking. It wasn’t two months into our search when friends said to grab a three-bedroom that we couldn’t afford “because prices aren’t going down.”
The best time for us to buy a house was when we were ready. Thanks to our Texas REALTOR®, my wife, and Microsoft, we knew exactly when that was.
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