buy cheap or better

[mzteris]

real estate. . .

what is your opinion - buying as cheap as you can (when you don't have much monthly income) or buying something "more palatable" that you can deal with emotionally/psychologically - even if it means sacrificing more of your "stash" and higher monthly $$. . .

[triguy46]

1. Is this a hypothetical question unrelated to today's market?

I've always heard that you want to own the cheapest house in the nicest neighborhood. Never the nicest house in a cheap neighborhood.

It would seem that if buying today, you might want to be careful about the risk of falling values as the market adjusts. Another rule: don't buy at market peaks.

[mzteris]

2. what about buying at

market troughs. . .

especially when you have one to sell, too.

Yes - "hypothetically" todays markets. In Wisconsin.

fyi - i/we currently have one of the "nicest" in the neighborhood. Problem is - I abhore it. :( I NEED to get the F OUT!!!!!!!!!!

[triguy46]

4. If you know when the trough is reached, buy. In some areas of the US...

if you had cash, didn't need to stretch yourself with a bizarre mortgage, you might be able to find some bargains. However, I'm of the contrarian school, i.e., if the common investor thinks he has found a good buy, do the opposite, because the common investor is usually wrong.

[mzteris]

5. thanks . . .

timing is everything, I suppose.

I still don't know which I should do. :sigh:

[Connonym]

7. I think if you hate where you live you should try to leave

however, the market here SUCKS. If you can sell your house I'd say go for it. It's terrible for your quality of life to live somewhere you hate. In the metro Milwaukee area prices seem to have stabilized but the market is really soft. You're likely to find some really motivated sellers. On the other hand, you might have a struggle selling your current home and I think that would be the biggest issue you face in this market. However, I'm not known for making the most sensible decisions. I just understand what it feels like to need to get the F OUT!

[JCMach1]

3. Everything comes from China these days (even expensive stuff)

so you might as well buy cheap!

Quality is dead...

[Gormy Cuss]

6. If you hate your house and can afford to move, do it.

Screw troughs. If both houses are in the same trough it shouldn't matter that much. It would be good to research the local market thoroughly though and enlist a buyer's agent to steer you to appropriately priced housing.