Should I Buy a Home Now or Wait?

Should I Buy a Home Now or Wait?

You've probably heard the phrase: “Yesterday was the best time to buy a home. The next best time is today.”

It's not just a catchy saying - it's rooted in truth. Real estate is a long-term investment, and historically, home prices have increased over time. While many buyers hope to time the market for lower rates or prices, waiting often costs more in the long run.

Quick Take: The longer you wait, the more buying a home could cost you.

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Housing Prices Are Still on the Rise

According to the Home Price Expectations Survey by Fannie Mae, over 100 top housing market experts agree: home prices are projected to increase through at least 2029.

We've moved past the sharp spikes of recent years, but steady, healthy growth of 3 - 4% annually is expected - a much more sustainable pace.

• Home prices next year will likely be higher than today.
• Waiting for the "perfect" interest rate may cost more overall.
• Buying sooner means you start building equity sooner.

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What Waiting Could Cost You

Let's do the math: If you purchase a $400,000 home today, and home values grow by 4% annually, that same home could be worth around $480,000 by 2030.

That's $80,000 in potential equity gained just by owning your home over the next five years. And that doesn't even factor in mortgage paydown.

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What If I’m Not 100% Ready?

Buying now doesn't mean buying the most expensive home on the block. It means:

• Exploring alternative loan options like lower down payment programs.
• Looking at smaller homes or different neighborhoods to get started.
• Taking advantage of down payment assistance programs if you qualify.

The key is finding the right move for you now, instead of waiting for a "perfect" market that may never come.

Bottom Line: Time in the Market Beats Timing the Market

If you’re wondering whether to buy now or wait, just remember: Real estate rewards action, not hesitation.

We'd love to help you explore your options, review what you can afford, and create a custom plan tailored to you.

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