Many people try to time the housing market — watching interest rates, waiting for the perfect moment, and hoping prices will drop. But the truth is, the best time to buy a home often depends more on your personal situation than market conditions.
According to Jesse Abrams, Co-Founder and CEO of Homewise (Brookfield Residential’s mortgage partner), it’s more important to focus on what you can control.
Put Yourself in Control
Buying a home is a personal decision — and your timing should reflect that. While interest rate changes can impact your monthly payments, they aren’t the only thing to think about. Ask yourself:
- Have I saved enough for a down payment?
- What’s my overall budget?
- Am I financially and emotionally ready to buy?
If your answers point to “yes,” that’s your green light. Jesse explains that trying to predict rate drops or price dips can lead to missed opportunities — and more competition when others re-enter the market.
Interest Rates Aren’t Everything
“It’s unlikely that we’ll see a rapid drop in interest rates in the next 12 to 18 months,” says Jesse. When rates drop, more buyers enter the market. That increase in demand can push prices higher, making homes less affordable overall.
Instead of waiting, Jesse suggests thinking of your home as a steppingstone, not an investment. The longer you wait, the longer you delay building equity — which is one of the fastest ways to grow long-term financial security.
Start Building Equity Sooner
Whether you stay in your home for five years or twenty, you’re still building value and stability. Jesse sums it up well:
“The best time to buy is often right now — especially in an environment with potentially rising interest rates.”
Take the Next Step Today
If you’re ready to start your homeownership journey, visit the Livingston show homes and connect with a Homewise agent. They’ll help you explore the best mortgage options and shop rates from multiple lenders — so you can make the right move, right now.