Why Most Homeowners Are Still Glad They Bought

If you’re thinking about buying a home right now, I understand why you might hesitate.

Mortgage rates are higher than anyone would like. Home prices are still substantial. And depending on what headline you read on any given day, you might wonder whether buying now means you’ll wish you had waited.

But there’s another side of the story that doesn’t get nearly as much attention.

Most people who have actually bought a home are still glad they did.

A recent NerdWallet survey found that 74% of recent buyers were glad they purchased their current home. Just 3% said they regretted it.

I think there’s an important reason for that.

You Don’t Live in a Housing Market

You live in a home.

It’s easy to reduce buying a home to interest rates, appreciation forecasts and whether you bought at exactly the right moment.

Those things matter. I talk about them with my clients every day.

But nobody buys a house so they can stare at a Zestimate for the next ten years.

They buy because they want another bedroom. A yard for the dog. A shorter commute. A neighborhood they enjoy. A garage. A place to raise their kids. Maybe they’re tired of renting and want something that actually feels like theirs.

Those are the reasons people tend to remember long after closing day.

Homeownership Is Also a Long Term Decision

There’s a financial side to this too.

Real estate has never moved in a perfectly straight line. Values can flatten. They can decline. Different neighborhoods and different types of homes can perform very differently.

That’s why I don’t believe someone should buy simply because they’re afraid prices might go up.

The better question is whether the home and the payment make sense for your life and whether you expect to own it long enough for homeownership to do what it historically does best: build equity over time.

Every mortgage payment can increase the portion of the home you own. Over the years, appreciation can add to that equity as well.

Eventually, that equity can become the down payment on the next house, help fund a move down the road or simply become part of your long term financial picture.

And Right Now, Buyers Have Something They Haven’t Had Much Of: Time

This is where our current market in South Snohomish and North King Counties gets interesting.

Buyers have more homes to choose from than they did during the extremely competitive markets of the past several years.

We’re seeing price reductions. We’re seeing homes sit longer. And depending on the property, buyers may have opportunities to negotiate on price, inspections, repairs or seller paid closing costs.

That doesn’t suddenly make homes inexpensive, and it certainly doesn’t mean every seller is desperate to make a deal.

But it does mean buyers can often make a more thoughtful decision instead of feeling like they have 15 minutes to decide whether they want to compete against ten other offers.

I think that matters.

You Probably Won’t Know the Perfect Time Until It’s Gone

There will always be a reason to wait.

When rates are high, buyers wait for rates to fall.

When rates fall, more buyers enter the market and competition can increase.

When prices flatten, people worry they might fall.

When prices start climbing again, people wonder whether they waited too long.

Trying to identify the perfect moment is nearly impossible.

Instead, I’d focus on your moment.

Does buying fit your budget?

Do you expect to stay long enough for ownership to make sense?

Is there a home available that genuinely improves your life?

And can you make the purchase without stretching yourself beyond what you’re comfortable with?

If the answer to those questions is yes, buying can still make a lot of sense, regardless of what this week’s housing headline says.

Thinking About a Move?

If you’re considering buying in South Snohomish or North King County, you don’t need someone to convince you that now is the perfect time to buy.

You need to understand the numbers, the market and your options.

That’s where I can help.

Let’s look at what’s available, what sellers are actually accepting and what owning versus waiting would look like for you. Then you can decide whether now is the right time for your move.