Jason Wheeler Debt Reduction Calculator: Fill & Download for Free

There are a lot of things to seriously consider when buying in the Bay Area. Below I go over what I think are the MOST Important questions to ask yourself.If your primary goal is benefiting from the mass of appreciation that we've had here in the Bay Area, I would tell you, now is not a great time to buy.The masses believe that the appreciation will never stop, and that if you don't get in now you will never be able to get in…How soon we forget, the crash of 2008 where everybody was doing the exact same thing.Many disagree with me and there are several agencies like Core Logic Credco that believe appreciation will continue at a moderate pace through the next couple of years.I believe the market is leveling out and we are way overdue for a real estate market correction.Now… on the other hand if your motivation is not solely appreciation.But you absolutely can answer yes to the below questions… THEN it is absolutely a great time to buy.CAN YOU ANSWER YES TO THESE QUESITONS…Do I plan to put my roots down for at least seven years?Do I absolutely love the home that I'm purchasing?Can I afford the monthly payments without hardship and still enjoy my daily life and go out to dinner with my family every now and again?After I use my down payment to purchase the subject home, will I have at least six months of reserves should I lose my job or get seriously injured?If you can answer YES to those four questions above THEN it is always absolutely a great time to buy here in the Bay Area.If appreciation is number one on your list for purchasing real estate, you are probably better off looking for a fixer-upper or continue renting.Fixing home is not for everyone though.I use a really cool rent versus buy calculator that I use and share with most of my clients here in the East Bay Area.This calculator takes into account interest rate, mortgage payments, estimated appreciation, or depreciation, as well as several other factors so that you can very closely evaluate your own specific situation.UPDATE: I’ve created a bit of a firestorm with this one… Thank you to everyone who is contacting me directly on my profile. If I have not gotten back to you yet please be patient. Because of the demand caused by this post I am working on a full packet I will be giving out for free that includes the rent vs buy calculator, a debt reduction planner and some other cool planning tools for potential home buyers.DOWNLOAD THE CALCULATOR HEREI hope my answer helped you a little bit, please give me a thumbs up if you found it valuable and please visit my profile and give me a follow. :-)IN CONCLUSION… saving for a large 20% down payment can be discouraging. Low down payment loan programs can be great but carefully weigh the risks of a low down payment loan for your own level of risk tolerance.Related: How is Recent News Effecting Bay Area Real Estate?Thanks!