<prompt> Human: My wife and I are currently renting an older built in 1921 house and we like it. Our landlord wants to sell the house within the next year or so. He is willing to sell it to us and we want to buy it. We have very little money for a down payment because we have been focused on paying off our student loan debt. The only other debt we have is for a vehicle.Is this a bad time to buy a house in the US?The owner wants 300k-350k for the house and we think this might be too high a valuation for the property. Similar places nearby have sold for a lot less in the last 6 months.How can we know if the price is too high?  <response>: How can we know if the price is too high?Cheapest way: Talk to a reputable realtor and ask them what they think andor compare to recently sold similar houses in the area. For my house, my realtors guess was within 5k of appraisal.Most Accurate: get an appraisal, this will cost you a few hundred dollars. And is ultimately what youd need to do if you actually buy the house. Except your lender will arrange the appraisal.Is this a terrible time? No. Youll never know until its too late, timing the market is for investors, what matters more is that you are financially ready for a house in that price range. 