‘Buy low, sell high’ – it’s an investment mantra that’s hard to shake, especially when it comes to buying a home. We’re all being bombarded with this advice, aren’t we?
But here’s a game-changer for you:
The ‘buy low, sell high’ strategy doesn’t necessarily apply to your home purchase. (Feel the relief yet?)
Yes, the housing prices are soaring, but remember, a home is more than an investment – it’s your sanctuary, your memory-maker, your roots-establisher.
Sure, home value may appreciate over time, but when you factor in inflation, it isn’t quite as dazzling. Most homeowners spend around 13 years in their home before moving on, and seldom does this result in a windfall profit.
Here’s the catch – timing the market perfectly is a myth, even for the savviest of investors. Attempting it with your primary residence can result in missed opportunities and unnecessary stress.
So, let’s save ‘buy low and sell high’ for stocks and rental properties. When it comes to your dream home, discard this mantra, set a comfortable budget, work with a trusted agent, and act decisively when you find a place that feels like home.
We’d love to hear your thoughts! Comment below.
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