Now here’s an area in which everyone is an expert and seems to know how to ‘time the market’. ‘We’ll put it on in the spring, things should be on the up by then…’ or ‘ I think if we wait a few months, prices will keep coming down and that will be the time to buy…’ or ‘it might be taking a bit of a dip at the moment, but you really can’t go wrong with property. Unlike stocks and shares…’ Well, yes, you can, getting the timing right is as impossible as it is with stock markets and you should never think of your home as an investment. You have to live somewhere and if you’re buying and selling, it’s all relative and it’s the one time when emotion will and probably should always be key. Just like dating or getting married. You wouldn’t marry for money. Would you?
“Should you fix your mortgage forever?”
In the US (and, randomly, Denmark) it’s the norm to fix-rate your mortgage for the life of your mortgage. For us and most others, it’s now usual to fix your mortgage rate, but only for a couple or five years at most.
