How Buying Now Can Save in the Long Run

cost of waiting to buyWhile in line at the grocery store yesterday, I overheard an exchange behind me: “It’s too late. We missed the window. Interest rates are up, and inventory is low. We should just wait until things settle down.” 

Real estate inventory and mortgage interest rates make commonplace conversations these days. Many in the market for a new home are wondering: Should I buy now or wait in hopes that things “settle down”? 

As the past two years of living through a global pandemic have taught us, no one can predict the future; however, we can look at the facts and statistics to help guide our decision-making process and alleviate our trepidation. While the market may be shifting, the data does not support a dip in sales prices or interest rates in the near future, as some who liken the current situation to the 2006 housing “bubble” might expect. Learn more about how today’s housing market differs fundamentally from the one that led to the Great Recession here

High Demand & Low Inventory

Continued supply-chain issues have resulted in sustained raw material shortages, and residential construction general contractors remain booked out for years. Yet, the ever-increasing demand for mountain homes has not slowed as remote work becomes more mainstream and the number of homes on the market remains low. High demand and low inventory indicate strong potential for continued average sales price growth this year. While this is encouraging for those considering selling, what about buyers?

How much could it cost to wait?

If you are in a position to buy, now is the time! Waiting can cost you significantly. Factoring in even modest sales-price growth coupled with likely-to-increase mortgage rates, waiting until 2023 to buy your mountain home could cost you tens to hundreds of thousands.

This analysis of what could happen if sales trends and interest rates continue on their current trajectory shows the potential savings getting into your new home or investment property sooner than later can provide: 

West and Main Homes Cost of Waiting to Buy 2022

We’d love to help you look at what these numbers mean for you. Reach out today! 

Posted by Angela McDonough (Sandstrom) on


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