Wrong!
Most people think: "we're going to wait until house prices drop before buying."
Or
"We're waiting for house prices to rise before selling."
But really, drop to what price? Rise to what price?
With your current situation, can you wait 5, 10, 20 more years?
No one knows how long it will take to reach your expectation or IF it will even happen.
To buy low, sell high is an ideal situation for everyone who owns or wants to own property.
If you can hold your property 10+ years it's a real possibility.
But life doesn't always happen like that.
- The job offer you received in a different city may not line up with your favourable market.
- Needing more space for your growing family may not happen in a market you've been anticipating.
- Needing to downsize because the stairs are getting too hard...you get the idea.
The only timing you should use to determine your purchase or sale is your personal situation.
When you're starting to feel uncomfortable in your home. When you're ready to make an investment, that's when you should be moving forward.
We never know whats going to happen, so your personal timing should be your decision maker.