Should I Buy a Home Now or Wait? Why Waiting Might Cost You More
You’ve probably heard this saying before: “The best time to buy a home was yesterday. The next best time is today.”
Why does this ring true? Because homeownership is a long-term investment, and over time, home prices generally rise. While you may be waiting for rates to drop or prices to fall, it’s important to understand that trying to time the market rarely works out the way you think.
Here’s something most buyers don’t always consider: the longer you wait, the more buying could cost you. And you deserve to know exactly why.
Home Prices Are Expected to Keep Rising
Every quarter, over 100 real estate market experts participate in the Home Price Expectations Survey from Fannie Mae. And there’s one thing they consistently agree on: home prices nationwide are expected to keep climbing, likely through at least 2029.
While the sharp price spikes of the past few years are behind us, experts predict steady, healthy, and sustainable increases of 3-4% per year going forward. While these figures may vary by local markets, the good news is that this pace of growth is much more typical — and a promising sign for both the housing market and potential buyers.
Even in markets where growth is more modest or there are short-term dips, the long-term benefits of homeownership still shine.
Here’s What You Need to Remember:
- Next year’s home prices will be higher than this year’s. The longer you wait, the more expensive buying will be.
- Waiting for the perfect mortgage rate or price drop could backfire. Even if rates decrease slightly, the projected increase in home prices could still make waiting more expensive overall.
- Buying now means building equity sooner. The earlier you buy, the sooner you start building equity, and over time, that equity adds up.
What You’re Missing Out On
Let’s break this down with real numbers because the math adds up quickly. According to these expert projections, if you bought a typical $400,000 home in 2025, it could increase in value by nearly $80,000 by 2030.
That’s a serious boost to your wealth over the next several years — and a big reason why your friends and family who already bought a home are so glad they did. Time in the market is what matters most.
So, the real question isn’t: Should I wait? It’s: Can I afford to buy now? Because if you’re willing to stretch your budget just a little or even consider a smaller home to get your foot in the door, it’ll pay off in the long run.
Yes, today’s housing market presents some challenges, but there are ways to make it work. You can explore different neighborhoods, talk to your lender about alternative financing options, or look into down payment assistance programs.
The key is to make a move when it makes sense for you — rather than waiting for an ideal scenario that may never come.
Bottom Line: Time in the Market Beats Timing the Market
If you’re debating whether to buy now or wait, remember this: real estate rewards those who take action and get into the market, not those who try to predict every price shift perfectly.
Curious about what’s happening with prices in your area? Whether you’re ready to buy now or just starting to explore your options, having a solid plan can set you up for long-term success.