Only you can answer that question, there are just too many factors to consider.
Where do you live, would be a big consideration. Are you in an overheated market or in "fly over" country?
What's your income?
What are your family needs?
How important is it to you to own vs buy?
As others have mentioned, what is the cost of renting vs buying where you are?
Consider hidden costs like insurance, taxes, HOA and condo fees, home maintenance.
Would you enjoy taking care of your home? Honestly, when I was a home owner, I was always stressed about what is going to be the next thing to go wrong that will cost me a bunch of money.
If you don't mind me asking, do you currently own now or are you renting?
Basically I have taken into account most of what you were saying but I just don't know if a better situation will come up for us, or not considering what is supposed to happen for the economy. I am in a position where every option feels wrong but I know its super easy to get lost in your own head. I appreciate the response and happy late 4th.
My life situation is probably a lot different from yours. All kids grown up and independent. My wife left me and we sold our townhouse back in February. So it's just me, myself and I in a rental condo. No plans to buy again.
I understand you don't want to make an expensive mistake, but things always change, there are no perfect solutions.
But I would say, I don't think buying a house is ever a bad idea. I think buying a condo is risky, if anything happens to the building and they have to increase the fees, that directly impacts the value of your property.
Is it worth trying to buy a home at this time?
Only you can answer that question, there are just too many factors to consider.
Where do you live, would be a big consideration. Are you in an overheated market or in "fly over" country? What's your income? What are your family needs? How important is it to you to own vs buy? As others have mentioned, what is the cost of renting vs buying where you are? Consider hidden costs like insurance, taxes, HOA and condo fees, home maintenance. Would you enjoy taking care of your home? Honestly, when I was a home owner, I was always stressed about what is going to be the next thing to go wrong that will cost me a bunch of money.
If you don't mind me asking, do you currently own now or are you renting?
Basically I have taken into account most of what you were saying but I just don't know if a better situation will come up for us, or not considering what is supposed to happen for the economy. I am in a position where every option feels wrong but I know its super easy to get lost in your own head. I appreciate the response and happy late 4th.
My life situation is probably a lot different from yours. All kids grown up and independent. My wife left me and we sold our townhouse back in February. So it's just me, myself and I in a rental condo. No plans to buy again.
I understand you don't want to make an expensive mistake, but things always change, there are no perfect solutions.
But I would say, I don't think buying a house is ever a bad idea. I think buying a condo is risky, if anything happens to the building and they have to increase the fees, that directly impacts the value of your property.