 TITLE: Should I Wait to Buy a House? CONTENT: Why Now Might Be the Right Time to Buy a House\n----------------------------------------------\nThe complexity of the housing market has likely given you a lot to think about, and there are a few factors you should pay close attention to if you're still on the fence. It may be an ideal time to buy if:\n*   **You've saved an adequate down payment.** Having a 20% down payment has its perks. It eliminates the need for mortgage insurance, sets the stage for a smaller monthly payment, and gets you into your home with a good amount of equity. If that's too steep, it's still possible to buy a home with as little as 3.5% down. Consider your larger financial picture. If you have a decent down payment, now might be a good time to make an offer.\n*   **You can reasonably afford it.** Affordability is about more than just the down payment and monthly mortgage bill. There are also closing costs, homeowners insurance, property taxes and home maintenance—not to mention mortgage insurance if you put down less than 20%. If your budget can easily absorb these costs, and you've built a solid emergency fund, you might be ready to buy a home.\n*   **You live somewhere where housing prices are expected to rise.** If local real estate experts predict a continual uptick in housing prices in your area, getting in sooner rather than later may help you save money in the long run.\n*   **You're tired of renting.** When you pay rent month after month, you aren't building any equity in return. And unlike mortgage payments, rent payments generally don't help your credit since they're unlikely to show up on your credit report. END