When's the right time to buy a house? Ask yourself these questions first, personal finance expert says

Published On Sep 1, 2024, 3:00 AM

The article discusses the current challenges of the housing market, including high prices and interest rates, and emphasizes the importance of being financially prepared before buying a home. Personal finance expert Bryan Kuderna offers key questions prospective buyers should consider, such as evaluating their credit score, confirming loan opportunities, and understanding the financial commitment of homeownership. Kuderna recommends ensuring monthly payments do not exceed 30% of income, having a good credit score, and maintaining an emergency fund. He also advises assessing both financial and personal circumstances to determine readiness for homeownership.

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With the ongoing challenges in the housing market and rising interest rates, homebuilders might struggle, leading to potential buy opportunities for investors. Additionally, if interest rates stabilize or decrease, homebuyer interest could increase again, benefiting certain ETF sectors.

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