When I was developing my retirement datasheet, one of the most influential item is housing loan. It takes a big chunk off my saving. Therefore if I could, I would prefer to borrow for the longest period like 30 years whenever possible so that it reduces my monthly or annual drawdown as I build up my others. And that's me. Of-course like many things in life, people have choices to their preference. Some want to pay up asap. Some won't even buy a home unless they can fully paid a home upfront. They are either from Mars or never able to execute to the plan they wanted. Obviously I do not mean either only. There are many options and rationales and I wouldn't feel like stepping on anyone toes.
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| Spikes follow by corresponding reduction Chart |
There are also others like me that are more conservatives ( Relative term for one who invested more than a 1M in stock market ) or them ( looking at property agents ) who will tell you that for stay, buy anytime. Personally, anytime ? Absolutely rubbish imo.
Home is the most costly and one of the most important asset to most people. Just have to give an example. If you see a price chart where the price spikes like a needle, good luck to those who follow through their life time deal. Hopefully you won't have to work on the remainder or big chunk of your life time to save the differences !
So is it a good time to buy now ? Your guess is as good as mine. I like to know too ! but I would take a home anytime for a reasonable price after glancing the chart or table or whatever ....
Cory
2021-0321
Articles in this Blog is personal take and educational purposes only. Reader should seek their own professional help when making financial decision and be responsible for their decision.
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