Trying to figure out if it’s better to buy a home now or hold off? There’s a lot to take into account, like the state of the market and your personal needs. However, it’s important to remember that trying to predict the perfect time to buy isn’t usually a smart move—there are just too many variables involved.

Experts often say that it's better to stay invested in the market over time than to try and guess the perfect moment to make your move.

If you're looking to buy a home and the finances are in your favor, it’s often better to do it sooner rather than later. Bankrate shares some insights on why that is.

““No matter which way the real estate market is leaning, though, buying now means you can start building equity immediately.”
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— Bankrate

Here’s some data to help illustrate the advantages of purchasing a home now instead of waiting. Every quarter, Fannie Mae puts out the Home Price Expectations Survey, which gathers insights from more than a hundred economists, real estate professionals, and market strategists about their expectations for home prices over the next five years. According to the latest survey, these experts anticipate that home prices will keep rising at a more moderate pace through at least 2029, following the rapid increases we’ve seen in recent years.

What does this actually mean for you? To put these numbers into perspective, the graph below illustrates how a typical home value might appreciate over the next few years based on the HPES projections. This is the potential equity you could begin to build if you purchase a home in early 2025.

Imagine you decide to buy a $400,000 home this January. According to forecasts from the HPES, you could see an increase of over $83,000 in your household wealth in just five years. That’s a significant amount. If you continue renting, you're missing out on this chance to build equity.

The current real estate market does present some challenges, but buying a home now can be a smart long-term investment. If you're thinking about purchasing, don't lose hope. We can explore various strategies to help you succeed. This could mean looking at more affordable neighborhoods, considering condominiums or townhomes, or checking out down payment assistance programs. There are plenty of options available to help you make your dream home a reality.

You could definitely choose to wait. But if you're just holding off in hopes of catching the perfect moment in the market, consider what you might miss out on. Ultimately, the choice is yours.

Bottom Line

If you're unsure about whether to buy now or hold off, remember that it's really about how long you're in the market, not the exact timing. If you're ready to discuss what steps you can take to begin the process, let's connect today.