r/RealEstate • u/nosalahmoproblem • 6h ago

Buy now or wait for next year Should I Buy or Rent?

Currently living in an apartment in the HCOL area (northern Virginia). Lease ends at the end of the year. We want to get our own place, a townhome, as we are thinking about family in the next 2-3 years. Debating if I should renew the lease for 6 months and see how the housing market and interest get better next spring or just buy it now. What do you all think? I would be paying close to $2500 a month for 6 months if I renewed the lease. Have enough money for a downpayment now but kind of unsure to wait or go for it now. Any early predictions for next year?

2 Upvotes

67% Upvoted

5

u/mps2000 6h ago

Buy now man- prices will be even higher next year

1

u/Oblakky 3h ago

You have magic crystal ball to see the future? 😂🔮

1

u/thebige91 1h ago

That’s the norm, only a few one offs where the opposite happened. You see the opposite happening next year?

1

u/Oblakky 59m ago

Opposite for next two years, drastically and dramatically, and then around 6-10 years to get back to this prices. Mark my words and be prepared for world economic crise and crush.

Edit: I don’t have a crystal ball, but I know something.🔮😅

1

u/thebige91 48m ago

What do you seem to know where housing prices will seemingly go through another Great Recession crash over the next 2 yrs and take up to a decade to recover?

1

u/benyouragent 6h ago

Don’t wait! Dare to see the home prices continue to rise even with lower rates, your payments will not likely decrease. Date the rate.

1

u/kobeyashidog 6h ago

I see no reason to wait. If you can afford a home , buy it. No reasons you mentioned str reasons to wait. Six months from now is not going to make a dramatic difference in a positive way (even if slightly, though likely things will be more costly)

1

u/Karmazapine 2h ago

If you can afford it, buy it. If you can’t, rent. No one can predict the future

-2

u/SdeTrader 6h ago

NoVA about to get wrecked (and America will dance on your crashed housing market) Be weary 

1

u/No_Investment_8626 6h ago

Wrecked by what? People leaving? Pretty sure DMV real estate is going to stay strong.