Is it a good time to buy an investment home to rent out, or should we wait off on it?
Do you have a question about buying or selling a home? Do you want to know where your next move should be? Email Jacob Passy at TheBigMove@marketwatch.com.There are many reasons why people should be hesitant about testing the waters as a real-estate investors — and trying to time the market is just one of them.
Buying a home as an investor is about being prepared for the worst-case scenario. Presumably, since you’re talking about buying a home to rent, you’re planning to be in this for the long haul. If prices were to drop, you would be fine so long as you can continue to make your monthly mortgage payments. It’s only if you needed to offload the property in a down market that you’d encounter trouble.
And if, down the road, your family members suddenly became unable to manage the property for you, would you be prepared to travel to El Paso regularly to pick up the slack?
Yaaaasss!!! Do it now while prices are high and interest rates are higher!