Been thinking about getting a loft and checked out a few spots in downtown over the past couple of weeks. East liberty, Parklawn/QEW etc; I am solely interested in a 2 story loft with price range of max $400K.
I like east liberty due to its location, close to highway and ammenties but a friend of my who has a CFA etc told me to hold off from buying for another year or two. He said there is too much supply and not enough demand and the prices will come down. With interest rates looking to go up, he's like its a sure bet an easy $40K will come off the price tags for alot of these places.
I doubt interest rates will hike that much for another 2 years so my question is, is it worth buying this loft or should i wait? I am looking to get my own place and all.
Thoughts?
Happy new year to you all!
I like east liberty due to its location, close to highway and ammenties but a friend of my who has a CFA etc told me to hold off from buying for another year or two. He said there is too much supply and not enough demand and the prices will come down. With interest rates looking to go up, he's like its a sure bet an easy $40K will come off the price tags for alot of these places.
I doubt interest rates will hike that much for another 2 years so my question is, is it worth buying this loft or should i wait? I am looking to get my own place and all.
Thoughts?
Happy new year to you all!