3 Reasons Why Waiting To Buy a Home Doesn’t Pay

By Rachel Mooney

Rachel has built a reputation for making the complex process of buying and selling homes not only enjoyable but also financially rewarding. Her deep understanding of the local market, combined with her genuine passion for helping families transition through different stages of life, has allowed her to serve hundreds of clients with exceptional care and professionalism.

The decision to buy a home is a big deal that needs careful consideration. While the market may seem unpredictable, there are compelling reasons why now might be the ideal time to take the plunge into homeownership. We’ll explore the top three reasons why buying a home now instead of waiting could prove to be a wise investment:

1. Home values will always rise over time. One of the most compelling arguments in favor of buying a home now is the historical trend of home values consistently rising over time. Real estate has proven to be a solid long-term investment, with property values generally appreciating despite short-term fluctuations. By entering the market sooner rather than later, you benefit from this upward trajectory.

One good example is Metro Atlanta, where home values increase about 5% year over year. Last year, in a leveling market here in Forsyth County, we increased by 4.2%.

2. Interest rates will take a long time to come down and may even rise again. Interest rates are a key factor influencing the affordability of homeownership. Currently, we find ourselves in a relatively high interest rate environment, and rates could stay this way for a while. However, in the first quarter of 2025, they are predicted to fall into the higher five percent range, making homeownership more affordable. No one knows exactly what will happen, and economic conditions can change. No one knows exactly what could possibly happen in 2025, and economic conditions can change.

Waiting for interest rates to drop further may seem like a strategic move, but the reality is that predicting market fluctuations is challenging. Take the initiative and secure a mortgage now. You can look into various aid programs like down payment assistance and 2-1 buydowns. Additionally, you can always refinance late.

3. Start building equity now for a greater return on investment. One of the most significant advantages of homeownership is the opportunity to build equity over time. By purchasing a home now, you initiate the wealth-building process sooner, allowing you to capitalize on the potential for increased property values.

As I mentioned in the first point, home values tend to rise. The average rate is anywhere from 5% to 7% year over year. So, the quicker you get into the game, the sooner you can increase your home equity and build your wealth. The longer you own your home, the more equity you accumulate, providing financial stability and the potential for a significant return on investment when it’s time to sell.

I know there’s a lot of uncertainty in our real estate market right now, and we don’t know exactly where it will head in 2025. While waiting for the “perfect” time to buy a home may seem tempting, the current market conditions present compelling reasons to act now.

If you’re thinking about entering the home market and purchasing a property, let’s have a conversation and figure out if now is the right time for you. Reach out to us at (678) 804-4733 or rachel@rachelmooney.com. We can help.