Should I Buy a Home Now or Wait?

By Julio Cobian, Mortgage Advisor in Chico, CA

One of the top questions I hear from homebuyers is: “Should I buy a home now, or wait until rates go lower?” It’s an important question, and the answer isn’t the same for everyone. Here’s what you should consider before making your decision.

1. Mortgage Rates Are Only Part of the Equation

Yes, mortgage rates affect your monthly payment. But waiting for the “perfect” rate isn’t always the best move. Home prices and competition also play a huge role. If rates drop, more buyers may jump back into the market, which could drive up prices.

2. Focus on Affordability

Instead of timing the market, ask: “Can I afford this home comfortably?” Work with a mortgage lender to explore loan options that fit your budget. Even if rates are higher today, you might qualify for programs that reduce your payment—like down payment assistance in California or credits from the seller.

3. Remember: You Can Refinance Later

Your first mortgage doesn’t have to be your forever mortgage. Many homeowners buy when the time is right for them and refinance when conditions improve. What matters most is locking in your home, building equity, and creating stability for your family.

4. Local Market Matters

Here in Chico and across Butte County, real estate is unique. Inventory, demand, and neighborhood trends all play into the decision. That’s why connecting with a local mortgage advisor is so valuable—we understand the market beyond just numbers.

5. Personal Goals Come First

Buying a home isn’t only about money—it’s about lifestyle. Do you need more space? Are you tired of renting? Are you ready to invest in your future? If the answer is “yes,” then waiting might cost you more than a slightly higher rate ever could.

Final Thoughts

There’s no one-size-fits-all answer to whether you should buy now or wait. The best choice depends on your finances, your goals, and your timeline. My role as a mortgage lender in Chico, CA is to help you evaluate your options and create a plan that works for you.

📲 DM me today or call to talk through your homebuying strategy.