{"id":22296,"date":"2025-04-30T00:03:46","date_gmt":"2025-04-30T06:03:46","guid":{"rendered":"https:\/\/woodriverweekly.com\/?p=22296"},"modified":"2025-04-29T12:09:57","modified_gmt":"2025-04-29T18:09:57","slug":"should-i-buy-a-home-now-or-wait","status":"publish","type":"post","link":"https:\/\/woodriverweekly.com\/index.php\/2025\/04\/30\/should-i-buy-a-home-now-or-wait\/","title":{"rendered":"Should I Buy a Home Now or Wait?"},"content":{"rendered":"

BY ANNA & MICHELLE<\/em><\/p>\n

At some point, you\u2019ve probably heard the saying:\u00a0\u201cYesterday was the best time to buy a home, but the next best time is today.\u201d
\nThat\u2019s because homeownership is about the long game \u2013 and home prices typically rise over time. So, while you may be holding out for prices to fall or rates to improve, you should know that trying to time the market rarely works.<\/p>\n

Here\u2019s what most buyers don\u2019t always think about:\u00a0the longer you wait, the more buying could cost you.\u00a0And you deserve to understand why.
\nForecasts Say Prices Will Keep Climbing<\/p>\n

Each quarter, over 100 housing market experts weigh in for the\u00a0Home Price Expectations Survey<\/em> from\u00a0Fannie Mae<\/em>, and they consistently agree on one thing: nationally, home prices are expected to rise through at least 2029.<\/p>\n

Yes, the sharp price increases are behind us, but experts project a steady, healthy, and sustainable increase of 3-4% per year going forward. And while this will vary by local market from year to year, the good news is, this is a much more normal pace \u2013 a welcome sign for the housing market and hopeful buyers (see graph below):<\/em><\/p>\n

\"\"And even in markets experiencing more modest price growth or slight short-term declines, the long game of homeownership wins over time.<\/p>\n

So, here\u2019s what to keep in mind:
\nNext year\u2019s home prices will be higher than this year\u2019s.\u00a0<\/strong>The longer you wait, the more the purchase price will go up.
\nWaiting for the perfect mortgage rate or a price drop may backfire.<\/strong>\u00a0Even if rates dip slightly, projected home price growth could still make waiting more expensive overall.
\nBuying now means building equity sooner.\u00a0<\/strong>When you play the long game of homeownership, your equity rewards you over time.<\/p>\n

What You\u2019ll Miss Out On<\/strong><\/p>\n

Let\u2019s put real numbers into this equation, because it adds up quickly. Based on those expert projections, if you bought a condo at $400,000 in 2025, it could gain nearly\u00a0$80,000<\/strong>\u00a0in value by 2030 (see graph below):<\/p>\n

\"\"
\nThat\u2019s a serious boost to your future wealth \u2013 and why your friends and family who already bought a home are so glad they did. Time in the market matters.
\nSo, the question isn\u2019t: should I wait? It\u2019s really: can I afford to buy now? Because if you can stretch a little or you\u2019re willing to buy something a bit smaller just to get your foot in the door, this is why it\u2019ll be worth it.<\/p>\n

Yes, today\u2019s housing market has challenges, but there are ways to make it work, like exploring different neighborhoods, asking your lender about alternative financing, or tapping into down payment assistance programs.<\/p>\n

The key is\u00a0making a move when it makes sense for you, rather than waiting for a perfect scenario that may never arrive.<\/strong><\/p>\n

Time in the Market Beats Timing the Market.<\/strong>
\nIf you\u2019re debating whether to\u00a0buy now\u00a0or wait, remember this:\u00a0real estate rewards those who get in the market, not those who try to time it perfectly.<\/p>\n

Want to take a look at what\u2019s happening with prices in our local area?\u00a0<\/strong>Whether you\u2019re ready to buy now or just exploring your options, having a plan in place can set you up for long-term success.
\n\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

BY ANNA & MICHELLE At some point, you\u2019ve probably heard the saying:\u00a0\u201cYesterday was the best time to buy a home, but the next best time is today.\u201d That\u2019s because homeownership is about the long game \u2013 and home prices typically rise over time. So, while you may be holding out for prices to fall or […]<\/p>\n","protected":false},"author":1,"featured_media":22299,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","_pvb_checkbox_block_on_post":false,"footnotes":""},"categories":[64,82,38],"tags":[],"class_list":{"0":"post-22296","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-better-homeowners-news","8":"category-housing","9":"category-sponsored"},"_links":{"self":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts\/22296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/comments?post=22296"}],"version-history":[{"count":1,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts\/22296\/revisions"}],"predecessor-version":[{"id":22300,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts\/22296\/revisions\/22300"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/media\/22299"}],"wp:attachment":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/media?parent=22296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/categories?post=22296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/tags?post=22296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}