Should you buy a home now, or wait?
Should I Buy Now or Wait for the Market to Change?
I get asked this all the time, “Should I buy now or wait for the market to change?” It’s a great question because buying a home is a big deal. But here’s the truth: if you’re ready to buy, waiting could cost you more in the long run.
Let’s get into why buying now might be the better choice. Here are the reasons to buy now.
Locking in the Current Price
If you buy now, you’re locking in the current price. Depending on your loan product, this can save you money in the long run. Historically homes appreciate over time. If that continues—and most experts think it will—you’ll be glad you bought when you did.
Every month you wait, prices can rise and make the home you want less affordable. That dream home in your favorite neighborhood? It might not be within your reach if prices go up while you’re waiting on the sidelines.
Equity from Day One
Another benefit of buying now is you start building equity right away. Think of equity as a savings account tied to your home. With each mortgage payment you make, a portion goes to pay down the loan principal and the rest goes to your ownership stake in the property. And as property values rise, so does your equity.
If you’re renting now, consider this: every rent check you write is going to your landlord’s wealth, not yours. Buying your own home flips that equation, so your money works for you and your future.
Time Your Life, Not the Market
The perfect home doesn’t wait for the perfect market. If you’re ready to buy now—financially and emotionally—don’t let market conditions hold you back. The right time to buy isn’t about waiting for the “perfect” moment in the market. It’s about timing your life.
Are you stable financially? Do you know what you want in a home? If so, the market shouldn’t be an issue.
What About Interest Rates?
Yes, rates are higher than they’ve been in recent years. But here’s the thing—rates aren’t set in stone. You can refi later if rates drop and lower your payment.
In the meantime, think about what you’ll gain. The appreciation and equity you build in your home now could far outweigh the cost of a slightly higher rate in the short term. Think about it: would you rather pay a little more in interest now or pay tens of thousands more later because prices rose while you waited?
The Risks of Waiting
Yes, you might hope prices or rates will drop if you wait, but the truth is no one can predict the future. In many areas, prices are still rising and waiting could mean you get priced out of the market altogether.
And while you’re waiting, you’re not building equity. That’s time you can’t get back. Instead of investing in your future, your money is sitting on the sidelines.
The Bottom Line
At the end of the day, the decision to buy now or wait isn’t about timing the market—it’s about timing your life. If you’re financially ready and have a clear vision of what you want, buying now could be the best decision you’ll ever make
Contact Me
Still wondering? That’s where I come in. I’ll walk you through the process, answer your questions and find a loan for you.
Comment below or reach out—let’s get started!
