Why Waiting to Buy a Home Could Cost You Thousands

By Kyle Koller

Producing Branch Manager of UMortgage West - The #1 Producing Team at UMortgage

What’s the real price of waiting for the “perfect” time to buy a home? Buyers want the lowest rate possible, so they sit on the sidelines, thinking patience will pay off. The problem is that while rates get all the attention, home prices keep rising. And that can cost far more than a slightly higher monthly payment.

Here’s a real scenario that shows why waiting often works against you:

What happens if you buy a home now? Let’s say you buy a $750,000 home today with a 6.75% interest rate. Yes, the payment may feel higher upfront compared to what buyers were used to a few years ago. That part is real.

But over the next 12 months, that same home is projected to gain about 5.19% in value. That equals roughly $39,936 in added equity in just one year.

What happens if you wait? If you hold off for a year, hoping rates come down, there’s a good chance the home itself costs more. Even if rates dip slightly, you’re buying at a higher price point. And if you plan to refinance later, closing costs, fees, and timing all add up, often totaling thousands of dollars.

When you look at real market data, this becomes clearer. In places like Farmington, Utah, home values have averaged about 4.5% to 5.5% growth each year over the past decade.

The market trend is consistent; home values tend to rise faster than rates fall. Waiting for the perfect rate often means paying more for the same home later and leaving potential equity on the table.

If you’re unsure what makes sense for you, let’s run your personalized numbers. Reach out, and we can look at your timeline, your budget, and what buying now versus waiting actually costs in your situation.

You can book a free call with me using the link below:

Schedule a 1:1 call with Kyle

You can also reach me at (801) 687-2018 or kkoller@umortgage.com. The market keeps moving with or without you. The key is making a move that works in your favor.