I was showing properties to a client the other week and we started to talk.
”Hey, Oda. If you could do it all over again, would you still be a Realtor?”
”I would. If I had another shot at this, I would probably get into the industry straight out of high school,” I responded.
”Really?”
”Oh yeah! I buried myself in student loans. Can you imagine if I used that money to buy Apple or Microsoft stock back in 2006?”
I often ponder who much that would be worth. However, it is better I look forward.
Oahu’s home prices are sky high. The median single family home price is nearly $1 million! On the other hand, the median price of a condo is approximately $458,000.
Over a long period of time, home prices have steadily increased on Oahu. Just ask your parents and grandparents what they bought their house for. It might be beneficial to purchase something before it is too late. Let’s think about how high prices will be for our children and grandchildren? That is a scary thought since I am a new father.
Everyones situation is different. However, waiting things out might not be the most best strategy. The “fill figure it out later” mentality probably will not get you far. The market is constantly changing and currently buying a home is very competitive.
If you are thinking about buying, you should start now. You can never prep enough too. This can be analyzing your finances, meeting with a Realtor, and or getting prequalified with a lender.
No client is the same. Some people can buy right now and others need a longer runway. Regardless of their circumstances, all of my clients had to start the process.
-Roda