When to Wait (and When Not to Wait) to Buy a House

Many potential homeowners look at housing inventory, interest rates, and market factors to decide when the time is right to buy a home. Personal goals and circumstances also play a big role. We’ve listed all of the things you may want to consider when deciding when to wait and when not to wait to buy a house.

Market Timing

When to Wait – A seller’s housing market means that the current inventory and conditions favor sellers over buyers. There is more demand for housing so sellers can get better offers, terms, and deals. While this doesn’t mean that you can’t buy, it may be a sign that it’s better to wait for a buyer’s market if you can.

When Not to Wait – If interest rates are low, it might be the right time to secure a home loan, called a mortgage. Getting a lower interest rate can save you big bucks over the 30-year loan. If you already have a mortgage, you may even want to refinance to take advantage of lower rates.

Personal Goals

When to Wait – Paying off debt, making a career change, and going back to school are all big goals that may make waiting to buy a house better for your overall plan. If you are new to budgeting, make sure that you have a solid plan in place before making your decision. Homeownership comes with costs beyond just your mortgage (insurance, taxes, and upkeep, to name a few). If you have other priorities right now, consider waiting to make that home purchase.

When Not to Wait – If you have been saving up for a down payment, monitoring the housing market in your area, working with a real estate agent, and see a house that meets your criteria, it may be time to make an offer. Once you have all of your ducks in a row and are ready to take that step, it is quite exciting!

Greg Sandler

Author Bio: Greg Sandler
Greg Sandler is a distinguished leader and strategist in the mortgage and real estate investment industry. With over two decades of experience, Greg has honed his expertise in guiding his clients to build wealth through real estate.

Greg Sandler has direct and first-hand experience as co-founder and CEO of USA Investment Group Management Inc., focusing on growing real estate holdings and diversified asset portfolios. Under Greg's guidance, the company has executed hundreds of traditional real estate acquisitions and currently manages a substantial portfolio of rental units.

Greg also has a track record of driving multi-million-dollar revenues and leading high-performing teams to success in mortgage loan originations, achieving the prestigious "Top 1% Originator" status in consecutive years. Currently steering the helm as the President at USALending.AI in Keller, TX, Greg has revitalized this division of a mortgage bank, significantly expanding the company's scale.

Prior to this, Greg's role as Senior Vice President at Fairway Independent Mortgage Corp in Rocklin, CA, was marked by his pivotal contribution in establishing the company's presence in northern California and northern Nevada. Under Greg's leadership, his team of nearly 110 dedicated mortgage professionals originated and funded approximately $800 million in residential mortgages annually.

Greg's professional journey is marked by his exceptional skills in negotiation, sales leadership, financial analysis, and P&L management. His ability to strategize, coupled with his in-depth knowledge of the mortgage and real estate sectors, makes him a visionary leader and a respected figure in the industry.

To book a call with Greg Sandler, please visit: www.calendly.com/greg-sandler