by 
Sherri
ANSWERS: 8
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Won't be able to afford the payments, the upkeep, the utilites or to furnish it would be towards the top of my list. +5
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Lack of MONEY, You are planning on moving to another area SOON, Kid(s) leaving home Soon etc .. would be the only reasons I can think of ... Right now is an EXCELLENT time to buy as it is a Buyer's market ... My own home value dropped from $225,000 to $140,000 since 2006 ... I was offered $195,00 in December 2006; but turned it down ... I SHOULD have accepted !! +5
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Avoid buying in the wrong neighborhood. the surrounding properties greatly affect your future equity and resale value. If you are single, a recent college graduate, expect to change employment any time soon and need the ability to move on short notice.
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I cant afford it.
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You can' t afford it - expect to relocate shortly-can't afford or not interested in the upkeep. I have owned homes since 1978 and believe buying is the way to go in the right circumstances. Do not buy a home expecting to make a huge profit. Buy a home because you expect to live there a long time and raise your family. We brought our first home in 1978 for 40,000 and sold it 4 years later for 59,000. We bought our next home for 105,000 in 1982 and sold it in 2002 for 400,000. We bought our beach house in 1986 for 128,000 and now live there. It was worth 450,000 2 years ago now worth about 350,000. But we don't care, because we are not going anywhere.
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1) you can't afford it and all related costs. 2) it's too far from where you need to be without adequate public transportation. 3) you're planning on moving or getting divorced soon.
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First, you have to pay taxes on the home. Secondly, if something breaks, it comes out of your pocket to repair it. Thirdly, you have to buy insurance on the home. Lastly, if you want to move, you have to sell it and in today market, not an easy task! +5
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