Should You Wait to Buy a Home? Why Delaying Could Cost You More Than You Think.
With interest rates higher than they’ve been in recent years, many potential homebuyers wonder if waiting might lead to better affordability. But what if the real cost of waiting isn’t about interest rates at all?
The Hidden Cost of Delaying: Home Price Appreciation
While a future drop in interest rates sounds appealing, home prices in markets like Denver continue to rise. That steady appreciation can quickly outpace any savings you might gain from a slightly lower rate.
Consider this: a home valued at $1,000,000 today could appreciate at a modest 3.7% annually. That same property could cost around $1,037,216 just one year from now—meaning you'd pay $37,216 more for the exact same home.
But What If Rates Drop?
That’s where refinancing comes in.
Even if rates do decrease in the future, you can buy now, lock in today’s price, and refinance later—often for a cost around $4,000. That’s significantly less than the $37,000+ you could lose simply by waiting.
The Bottom Line
When you focus solely on interest rates, it’s easy to overlook the bigger picture. But home price appreciation is real—and measurable. If you're serious about buying, waiting might cost you far more than you save.
Ready to talk strategy? We’re here to help you make an informed decision with expert, personalized guidance.
