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Originally Posted by Normal
With all due respect, “timing a market? A few thousand bucks?” What a salesman!
I wouldn’t suggest anyone can time the market precisely, I would suggest now isn’t the right time to buy a home in the Villages in general unless…you want to waste a “few thousand bucks”. A few thousand to one might be about 30 k. In some cases this amount could be much much more.
Timing has meant a large loss for many. For most, if you bought your house post COVID, you would understand.
The real “fool’s errand “ would certainly be an impulse buy in today’s market. Corrections don’t happen in milliseconds, they often take months to develop their upward on downward swing.
I would just suggest taking your time, there certainly are ZERO reasons to rush. Enjoy the vacation time! The Villages life still involves taxes, fixes on a home, insurance gouging, traffic and common day to day issues we all have.
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The red bold is the definition of market timing in an illiquid market.
The valuation of shelter costs going up or down should have little bearing on your happiness living in retirement. Your happiness should not be tied to a $ number, but should be tied to:
do you like your location?
does the house have what you want?
Can you afford the house?
Are you participating in the activities you are able to do before you can't do them any more?
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Timing has meant a large loss for many. For most, if you bought your house post COVID, you would understand.
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The current house we are living in was purchased in 2004. The valuation of the house was underwater for 15 years, at times up to about 25%. Do we love our house? yes. . . did we care about the valuation of the house being underwater? nope, nothing we could control, and we enjoyed our weekends, paid the mortgage, still went to the store and bought meals. .
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I would just suggest taking your time, there certainly are ZERO reasons to rush.
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maybe, or maybe not, everyone's situation is unique, but not rushing should be more related to buying the house you want which checks your boxes versus the low cost house because of a perceived low price. . .
met a woman during our lifestyle visit, who finally made it down to TV, and just after they got there, her husband was diagnosed with stage 4 pancreatic cancer. . . and her advice,
just do it!