Don’t Be Like Chad: Why Waiting to Buy a Home Could Cost You More
- Jerad Larkin
- 4 days ago
- 3 min read
If you or your clients are holding off on buying a home while waiting for mortgage rates to drop back to historic lows, it’s time to rethink the strategy. While it’s natural to want the best possible interest rate, delaying a home purchase based solely on rate speculation can result in paying more for the same property down the road.
In this post, we’re breaking down the numbers and historical trends that show why buying now—instead of later—can lead to greater long-term wealth, even in today’s market. Let’s dive into the math, data, and facts that every homebuyer and real estate professional should understand.
The Cost of Waiting: What the Data Really Says
Historically, home prices appreciate by about 5% per year across most U.S. markets. That means if a home is listed at $500,000 today, it could cost $525,000 (or more) just 12 months from now.
Meanwhile, while mortgage rates do fluctuate, no one can accurately predict when or if they will return to record lows like we saw in 2020 and 2021. In the meantime, buyers waiting on the sidelines are often:
Missing out on home appreciation
Continuing to rent and build no equity
Risking being priced out of neighborhoods they could afford today
This leads to the core concept: waiting could cost more in the long run—even if mortgage rates do drop later.
The Refinance Strategy: Buy Now, Refinance Later
A smart strategy that more real estate professionals are encouraging is the “Buy Now, Refinance Later” approach.
Here’s why it works:
You secure the home today at today’s value
You start building equity as the home appreciates
If and when rates drop, you refinance into a lower payment
You avoid getting priced out of the market due to rising home values
Remember: you can’t refinance the price of a home, but you can always refinance the loan.
Real-World Example: The Buy Now vs. Buy Later Calculator
To help real estate agents show buyers the true financial impact of waiting, the Chicago Agent One app offers a powerful tool: the “Buy Now vs. Buy Later” calculator.
This tool allows you to:
Compare total cost of ownership between buying now and waiting 6–12 months
Show how price appreciation and interest rate movement affect monthly payments
Provide tangible evidence that builds buyer confidence
Turn theoretical hesitation into actionable decision-making
By entering just a few key data points—like current home price, projected appreciation, and interest rate assumptions—you can give your clients a clear, data-backed view of what waiting may cost them.
Meet Chad: The Buyer Who Waited Too Long
Let’s introduce Chad.
Chad decided to wait a year, hoping for a lower interest rate. In that time:
Home prices in his market rose by 7%
Inventory tightened
The perfect home he once toured is now out of budget
The interest rate only dropped slightly, but not enough to offset the higher home price
Now Chad is back in the market—but with fewer options, more competition, and a higher monthly payment than if he had purchased earlier.
Don’t be like Chad.

What Real Estate Agents Can Do Right Now
As a real estate professional, you’re not just a salesperson—you’re an advisor. Tools like the Chicago Agent One app help you deliver real-time value that builds trust and helps buyers make smart decisions.
Here’s how you can take action:
Download the Chicago Agent One app if you haven’t already
Use the Buy Now vs. Buy Later calculator with your clients during consultations
Educate them with real data, not fear-based assumptions
Follow up with a plan to revisit refinancing options in the future
Your buyers will thank you—not just today, but years from now when they’re enjoying the equity they started building early.
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