Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 11 months ago

Is this a bad time to be buying a $500,000 luxury home?

14 Answers

Relevance
  • 11 months ago

    There's never a good or bad time to buy property.

    • Commenter avatarLogin to reply the answers
  • 11 months ago

    I am not sure what you mean by 'bad time'

    bad time for you ? - well only you can answer that ?

    Bad time to be buying a house in general ? - not really as interest rates are at record lows

    • Commenter avatarLogin to reply the answers
  • 11 months ago

    Yes, it is a bad time right now.

    • Commenter avatarLogin to reply the answers
  • 11 months ago

    it depends on how much money you have and if you're able to afford it without having to worry about debt

    • Commenter avatarLogin to reply the answers
  • How do you think about the answers? You can sign in to vote the answer.
  • 11 months ago

    Around here a $500K home is a basic starter.

    Whether or not it s a good time to buy a home depends on your job security and the housing market where you live.

    • Commenter avatarLogin to reply the answers
  • Anonymous
    11 months ago

    Since when is 500k a luxury home? That barely buys a modest "starter home" where I live, and not in a good neighborhood either.

    No, interest rates aren't going to come down. Prices may. We're in yet another bit of a bubble with lots of political/economic uncertainly going forward.

    • Commenter avatarLogin to reply the answers
  • 11 months ago

    It appears the real-estate is shifting from a buyers market to a sellers market. The number of homes on the marked is dropping faster because more people are entering the market and new home construction is down.

    So it appears it is not a good time to be buying.

    That said it depends on how long the trend continues and what pressure it will put on the market to appreciate home prices. It might be an ideal time to roll a house (buy it now and turn around and relist it in six months to a year).

    • Commenter avatarLogin to reply the answers
  • Greg
    Lv 7
    11 months ago

    As with any investment, currently have of the potential buyers think a $500K home is overpriced and half think it is underpriced; so who knows?

    • Commenter avatarLogin to reply the answers
  • Anonymous
    11 months ago

    I would wait. Prices will come down and interest rates also.

    Also depends if you have a recession proof job

    In today’s world in the US a $500,000 house is no longer consider a luxury home

  • 11 months ago

    Depends where you live.

    You may not even find one in California.

    • Commenter avatarLogin to reply the answers
Still have questions? Get your answers by asking now.