Because home prices and mortgage interest rates currently are so low, if you are in a stable financial position, now might be a good time to enter the home buyers’ market or sell your current house and buy a bigger one.
Remember all of the McMansions people built and bought before the housing bubble burst? Perhaps you are tempted to get your own larger, dream home.
The question is, should you?
If you have weathered the current recession and have the funds, those beautiful, large houses that were built just fifteen to twenty years ago may be tempting. Even if the price on a larger house is one you can afford, think carefully before upsizing. With an upsize comes many other upsized costs.