Not everyone should buy a house. There I said it.
(Feels strange…I'm a realtor, after all, but it’s true.)
Even with the historically low-interest rates, homeownership isn’t for everyone. I’ve seen what happens when people buy without really being ready — what’s meant to be an asset becomes nothing but a burden.
Here’s the good news — knowing it IS NOT the right time to buy is just as clarifying as knowing it IS the right time. To help here are five reasons NOT to buy a home right now:
- You aren’t happy in your job and/or you’re contemplating a career change.
- You’re hoping to travel (A LOT) once COVID restrictions lift.
- You don’t have the best credit or the down payment funds for the house you want.
- You tend to get antsy after living somewhere a year or two.
- Everyone around you is doing it. (I get it. Peer pressure is real, but you CAN resist! You’re not in middle school anymore, remember?)
No single one of these eliminates you from homeownership so chat with homeowners you know or a trusted realtor who can help you think through your situation and goals.
