You keep working hard and working overtime to save more dollars as your downpayment to purchase your ideal home. The inflation and the increase of the average house price reduced your buying power a lot. Your salary raise’s speed will never catch up with house price increase speed in the area you live.
The most crucial factor that you should consider when choosing to rent or buy a house is how long you think you will be staying in a particular area.
On balance, the longer you plan to stay, the more cost-efficient it will be to buy a house. The longer you rent, your rent payment goes away, and you don’t build any equity.
You don’t know-how. It’s not only you, the market keeps changing. You need up-to-date steps and an agent to guide you through.
You were trying to buy a home but casually. You’re afraid of the housing market crash and loss of your money. You feel the house price is too high, and you can’t afford it, so you are waiting and telling yourself the price will go lower because the economy isn’t right.
Read my Team Work Method, check out how I use it to help first-time home buyers find their dream home.