I have saved some $80K for house deposit. I am planning to buy my first house for around $650K.
As I have seen many news that there is a good chance that house prices will come down in Sydney.
My question is:
1) I am currently staying in rented unit and pay $2000 per month.
2) Example: If I wait for say 8 months so that prices will come down and assuming there is reduction which is around 20K than today's price.
3) But for next 8 months, I will be paying rent total approx 16K which is going to my unit Owners mortgage.
So is it good to Buy house now and start paying my mortgage or Should I continue renting and wait for price corrections?
I am totally confused, please help