The Cost of Waiting To Buy Real Estate

Let's talk about waiting to buy a home.

Does it ever feel like it's the right time to buy real estate? The answer is - not usually.

Right now, we face a number of challenges in the housing market. There’s lower inventory. And interest rates rose quite quickly over the past two years.

So many people respond by hitting the pause button. Well, if history has taught us anything, waiting to buy real estate has been a poor strategy.

For example, in 1971 the interest rate was the same as it is today. Many people decided to wait until the interest rates dropped. If you’d have been one of those people, you wouldn’t have purchased until 1993. You’d have rented for 22 years while you waited for rates to come down. In the meantime, house values quadrupled.

The key principle is ‘don’t wait to buy real estate; buy real estate and wait.’

Ready to make a move? Let's chat. Your future home might be closer than you think. Give me a call to learn what your next steps should be.