I keep hearing that I should wait for prices to fall, but during my search both rent and borrowing costs have moved as well. I have now found a suitable studio in Marrakech that I can afford, although it does not look cheap by historical standards. The figure I am weighing is roughly MAD 10,640,000.
I am trying to separate a sensible affordability decision from an attempt to predict the market. For those who chose either to proceed or wait, which personal threshold actually decided it: monthly carrying cost, cash reserves after purchase, expected holding period, rent versus ownership cost, or an acceptable discount from the asking price?
I would especially value a sanity-check on what evidence should support the decision. How current should comparable sales be, how much weight should I give asking prices versus completed sales, and would low transaction volume or seasonal noise make recent price movements unreliable? If you faced the opposite choice at around this price, what specifically tipped it?
I am trying to separate a sensible affordability decision from an attempt to predict the market. For those who chose either to proceed or wait, which personal threshold actually decided it: monthly carrying cost, cash reserves after purchase, expected holding period, rent versus ownership cost, or an acceptable discount from the asking price?
I would especially value a sanity-check on what evidence should support the decision. How current should comparable sales be, how much weight should I give asking prices versus completed sales, and would low transaction volume or seasonal noise make recent price movements unreliable? If you faced the opposite choice at around this price, what specifically tipped it?