^^ Not a homeowner but from what I see and hear, house = one huge a$$ project.
When it’s a property for rental or investment, I could see it making a return but still over a longer period of time. When it’s yours and you don’t cheap out on stuff, I don’t see it returning quite as quickly!
Note this is for the average case and not for those who buy a property like in central Florida or one of the Gulf disaster affected areas where prices are like 30-40% down and somehow make a killing after a couple of years. Sure that can happen but it’s not common. Plus speculation like that is what can artificially drive up prices in the short term anyways.
I realize there’s money to be made in real estate but one definitely has to know what he/she is doing. It’s not like automatic money in the bank over renting if you don’t do it right…
A house for yourself or as an investment is a great opportunity. As Ryan said, if you can afford to buy, NOW is the time! Mortage rates are extremely low. I locked in at 4.5% on a re-fi.