Buy Now or Wait? Let’s Break It Down!

As the market shifts, there is usually a common thread with questions real estate professionals get. A common question right now from Buyers is, should I buy a home now or wait? If you are pondering this question, know that You’re not alone.

Here’s the thing: there’s no crystal ball when it comes to the housing market, and your personal situation and goals are the biggest consideration. For example, for some people, buying right now does not make the most sense, however, continuing to rent for a certain amount of time to pay down debt makes the most sense, to put them in a better qualifying position a year down the road. The most important thing is to have a plan and a path toward homeownership, which is setup with your realtor and lender.

Let’s talk about a couple of other considerations—prices are still rising, and while interest rates are higher than they’ve been in the past, experts agree that waiting could cost you more in the long run. Why? Because home prices are expected to keep going up, and at some point, buying a home might become out of reach. Now, if you’re someone who’s thinking, “But what if the market cools?” Sure, home prices might stabilize, but the truth is that no one can perfectly predict when that will happen. And while you’re waiting, you could be building equity in a home of your own.

At the end of the day, buying a home is about your goals, not market trends. Need help deciding what’s best for you? I’m here to walk you through it. I’m Amber Johnson with Pillar Real Estate, and I’ve got your back whether you decide to wait or jump in now. Let’s chat and get you moving toward your real estate dreams!