A lot of people were hurt in the housing bust because they bought houses as short-term investments. With the market expected to decline further this year, 2009 won’t be a good time to get back into real-estate flipping.
Don’t buy a house because it’s cheap, buy a house because you want to live in it. But is the economic down turn going to last for ever?
If you are out looking at a house, make sure you are going to be their for a while. You should be in the home for at least 5 years. With the house market how it is, you might see your investment greatly decrease in value. You don’t want to buy a house and watch the value drop. You want to be in the house for more than 5 years.
The real estate market is always going to change. The market might be low now but give it five years and the market could be completely different. the last ten years many home prices have at least doubled.
The real estate market won’t stay the same forever. The house value could be down 5 % now. If you give the market some time, you could be up 20% in the next few years. The market will not stay the same.
That is way you need to be in the home for an extended period of time. The home will generally be a great investment if you give the investment time. A home should always be a long term investment.
If you could stay in the home for at least 10 years. You investment will be very good to you. Their are very few investment opportunity’s that are as good as a buying a home and keeping it for at least 10 years.