It's a pretty decent time to buy right now. The market isn't ridiculously overinflated and seems to have more or less stabilized, so you'll keep getting equity without having to worry about a massive crash any time soon.

Just remember that even though you're signing up for 30 years, you're not stuck there forever. Honestly, your best bet is to pay an extra payment every year for five years, build up enough equity that you can use it as a down payment on the home you want to die in, and get out of the starter home. Bonus points if you're handy enough to fix things up and add even more value to the place.



To be fair, we've got a lot of country with really cheap houses around the middle, though some of the most expensive real estate in the world is definitely in the US.

This post was edited by AiNedeSpelCzech on May 18 2016 12:18am

Bought my house 2 years ago.

Yeah quoting LA prices isn't an accurate description of the total American housing market

neither is quoting vancouver prices

Always put extra money toward principle, not directly @ the mortage

What idiot would pay cash for a house when interest rates are so low

grats

Gratz, I bought my first house a little over a year ago, brace your shorts, it's so much more fun. You close the curtains and have sex everywhere as loud as you want.