Reasons to Not Purchase a Home

Colleen Kulikowski October 19, 2015

We always talk about about what a great time it is to purchase a home in WNY, but there are some very sound reasons why you might not want to purchase a Western New York home at this time. Even though you may have the financial resources and the desire to own your own home, it might not be the right time for YOU.

Yes you read that correctly.

We have a reason to suggest that. There are so many times that we see where good people make poor decisions and then they find that they have to sell a Western New York Home too soon. Too often we find that we have to sell a home for a client that is in a tough spot, having to sell right after purchasing a home.

When you purchase a home, you don’t want to be in a position where you have to turn around and sell it too soon. The longer you own a home you have time to experience the greatest appreciation. So if you are hesitating there may a good reason to listen to your gut.

Here are a few reasons to think twice before purchasing a WNY home:

You are experiencing marital problems – If your marriage is trouble, this is not a good time to purchase a home in Western New York. You have to think about the potential of your marriage not surviving. Let’s face it; purchasing a home is a stressful event in any relationship. One that is struggling it is particularly tough.

You are new to the area – Are you unfamiliar WNY area? This is an excellent reason to rent instead of purchasing. You may like an area only to discover that you would be absolutely in love with another area that you had no idea existed.

Your job is not secure or you just changed careers – How long have you had your job? How secure is your job? Do you have six or nine months in the bank? Could you find another job paying as much or more than you currently earn?

If you are feeling a little uneasy, perhaps you should wait to purchase a new home.

Better to take your time and be absolutely sure that this is the time for YOU to purchase a home. Just because everyone else is purchasing homes right now doesn’t make it the right time for you. It is ok to delay a home purchase, only you can decide if this is the right time to purchase a home.

Selection of Homes For Sale

All statistics are gathered from the Buffalo Niagara Association of REALTORS®.

For more information – call our J. Philip Real Estate Team at: (716) 650-0051 

Thinking of selling your Western New York home? Interested in finding out the current market value of your single family home, condo or investment property? Then call us at (716) 650-0051 to discuss what is happening in today’s Western New York Real Estate Market. We would be happy to give you a personalized Comparative Market Analysis for your home or assist you to purchase a home.

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