Should I buy the property now or wait?

[Ed M.]

Hello Everyone,

While it’s impossible to predict the future, what are your best guesses/advice:

1. Will property values ever dip below current values in the next 10 years?

2. If you had the opportunity to buy a specific property that was guaranteed to be available to you in the next 10 years, would you buy it now or wait to see if prices drop in the future?

Thanks in advance!

[Theresa Harris]

It isn't just about property values, but also interest rates.  If you find something where the numbers work, buy it now.  Why wait 10 years in case it might go down a bit when you can buy it now and rent it out?  

Figure out how much you'd make each month along with your tenant paying down your mortgage over 10 years and ask if the prices will drop by that much and interest rates remain so low...unlikely.