Are you waiting for housing costs to drop and interest rates to settle lower before you buy a home? If you are, you may be living at your same address for the rest of your life. The factors that determine the cost of housing — availability and demand — haven’t gone down for years and there’s no reason to believe they’ll start
dropping now.

Beware of the mental trap of waiting until your income increases so that you will – have enough money to buy the house you “really” want. The financial gap may get wider rather than narrower. For example, during the last ten years, family incomes increased at a slower pace than the price of housing.

When might the best time be to buy a home? The answer is simple: As-soon as possible. Many homes bought ten years ago are worth far, far more today. The sooner you invest in a home, the better your chances of coming out ahead on that investment.