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The Cost of Waiting to Buy a Home
- Kyra Taylor
- Nov 10
- 2 min read
One of the biggest questions I hear from buyers lately is: Should I wait to buy? I get it. With interest rates, home prices, and headlines constantly shifting, it can feel like you're trying to time the market just right.
But here’s the thing—waiting often costs more than people think. Let’s break it down.
Home Prices Rarely Go Down
In Northern Nevada, even when prices stabilize, they tend to creep up again over time. We may see small dips here and there, but long-term, home values have consistently risen. If you’re waiting for prices to drop significantly, you may end up priced out altogether.
Interest Rates Are Unpredictable
Yes, they’ve gone up from the historic lows we saw in 2020 and 2021. But waiting for rates to drop again is a gamble. If they do go down, demand will likely surge—and so will prices. If they don’t, you’ve missed out on equity you could have been building in the meantime.
Remember, you can always refinance if rates drop after you buy. But if home prices or competition rise while you wait, you lose buying power.
Renting Isn’t Always Safer
If you’re currently renting, you're already paying a mortgage—just not your own. Rents have gone up in our area and don’t offer any return on your investment. When you buy, you build equity with each payment and create long-term stability for yourself.
Equity Builds Over Time
The longer you own a home, the more wealth you build. Waiting even one or two years can mean missing out on tens of thousands in appreciation—especially in a growing market like ours.
Let’s say a $400,000 home appreciates at just 3% per year. In two years, that’s over $24,000 in potential equity you’ve missed by waiting.
Final Thought
If you're financially ready to buy and plan to stay in the home for a few years, it’s usually smarter to start now. Every market is different, and every buyer’s situation is unique—so if you’re not sure what’s best for you, let’s talk. I’m here to give you real advice based on your goals.
Want a quick homeownership plan or buying power breakdown? Reach out anytime.
(775) 431-3515
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