The housing market is rebounding, and so are mortgage rates, which might have some people feeling like they have to buy now before home prices and rates rise too much. But Kiplinger Editor in Chief Knight Kiplinger warns potential buyers in the August issue of Kiplinger's Personal Finance to chill out and not rush into buying a home -- especially one they can't afford. In fact, waiting to buy could pay off because Kiplinger's expects recent home price spikes to ease.
For more home buying and selling advice -- as well as mortgage-related tips -- here's what some of our favorite personal finance bloggers are writing:
The Mythical Benefits of Buying a Home and the Case for Renting [PT Money]
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"Renting offers the flexibility to come and go. You are not responsible for most maintenance, liable for most mechanical failures, market risk, buying and selling commissions, or increased monthly costs."
How to Make a Winning Real Estate Offer With a Few Easy Tricks [Money Under 30]
"You can make your offer stand out by taking a few easy steps that most bidders neglect."
Buying a House Within My IRA [Money Crush]
"The process is s-l-o-w, and requires patience on the part of all participants."
Should You Become a Landlord Instead of Selling Your Home? [Wise Bread]
"Here are the pros and cons my husband and I considered when deciding to rent rather than sell."
Myths About Refinancing with HARP [Mint Life]
"Here are two of the biggest misconceptions about this potentially money-saving program."
Should You Prepay Your Mortgage? [Get Rich Slowly]
"The psychological freedom of not having a mortgage is very appealing to us, but the argument for trying to invest the extra cash at a higher rate is compelling too."
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