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Will you buy this ?

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  • #31
    I would buy it and not look at home prices for the next 10 years and if they drop, so what, you needed a house & it was the right time for you to buy.

    Timing housing market is impossible.

    If you were paying cash i suppose you could wait to see if prices drop as rates rise but you plan to finance so I would just do it and move on.

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    • #32
      I think the real question is if this particular house is close to the best value purchase available.
      Have you shopped enough? Don’t anchor price on prices 2 years ago. The price you pay and value to you is the decision point. There will always be houses for sale. No clue if you will like them or at what price.

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      • #33
        The market may soften by next year. But the rise in mortgage interest rates means you will likely be paying more in monthly payments, even if you wait. And given inflation these days, there is a fairly good chance that prices will continue to rise over time. No one knows with any certainty. Right now, demographics, a flush economy, and low mortgage interest rates are all continuing to drive up prices.

        Again, if your budget is In good shape and your plan is to stay in the house a long time, now is a good time for you to buy.

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        • #34
          I look at it differently. A $600k house is a relatively inexpensive house for a doctor to live in. I do not know a single doc who lives in a house valued for less, and I know many whose house(s) exceed $1M in value and quite a few over $2M, too.

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          • #35
            Originally posted by VagabondMD View Post
            I look at it differently. A $600k house is a relatively inexpensive house for a doctor to live in. I do not know a single doc who lives in a house valued for less, and I know many whose house(s) exceed $1M in value and quite a few over $2M, too.
            Paid for several years ago or current value?
            “Be wary of the company you keep for they are a reflection of who you are, or who you want to be..."
            There are many single income physicians that choose to spend less than $1m. Most probably did actually spent much less.
            I do agree that it is hard to call $600k house out of line for a physician. Probably on the lower end.

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            • #36
              Originally posted by Tim View Post

              Paid for several years ago or current value?
              “Be wary of the company you keep for they are a reflection of who you are, or who you want to be..."
              There are many single income physicians that choose to spend less than $1m. Most probably did actually spent much less.
              I do agree that it is hard to call $600k house out of line for a physician. Probably on the lower end.
              Agree but depends on where you live obviously
              I'll put up a poll..

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              • #37
                Originally posted by VagabondMD View Post
                I look at it differently. A $600k house is a relatively inexpensive house for a doctor to live in. I do not know a single doc who lives in a house valued for less, and I know many whose house(s) exceed $1M in value and quite a few over $2M, too.
                Depends where you are of course. My house was a shade over 400k. And all the rest of the docs in the neighborhood have similar priced homes.
                there is a neurosurgeon who has monster down the road. And an orthopedic who has a very nice place on the water but they are in their late 60s and still working pretty hard.

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