A question I've been hearing from buyers lately is: Should I buy a condo now or wait?
With mortgage rates still high, it's understandable to wait. But there's another side to consider.
Some condos and townhomes in the South Bay have seen softer pricing and less competition compared with the peak market. That can give buyers more time to look at the numbers, review the HOA and disclosures, and potentially negotiate.
A few things I'd pay close attention to:
HOA dues and what they cover
HOA reserves and upcoming assessments
Financing eligibility (lending)
Recent comparable sales
Your total monthly payment vs. rent
If rates eventually come down, refinancing may also be an option, but I wouldn't buy based on that assumption alone.
If you're looking in San Jose, Milpitas, Santa Clara, Sunnyvale, Campbell, Willow Glen, or nearby, I'm happy to help you compare a few properties and see whether buying makes sense for you.
- condo
- townhome
- hoa
- south bay
- first-time buyers
- mortgage rates