Why Buy Now (And Not Wait for the Market to Heat Up Again)
- Liana Pomeroy
- Oct 15
- 4 min read
Rates are at their lowest in over a year. The housing market is softer than it’s been since things turned. And yet, many buyers and investors are still sitting on the sidelines, waiting for the “perfect time” to jump in.
Here’s the truth: there are real deals to be had right now, and smart buyers are quietly taking advantage. If you’ve been waiting, this may be the window of opportunity you’ve been hoping for.
You’re in the Driver’s Seat
When the market is hot, buyers lose leverage. Multiple offers. Waived inspections. Bidding wars. Paying over list price. We saw this play out across 2021 and early 2022, when demand far outstripped supply.
Right now, the script is flipped. Homebuyers have room to breathe and negotiate.
Homes that have been sitting on the market for 60+ days are prime candidates for a lower purchase price.
Sellers are much more open to offering concessions — covering closing costs, agreeing to make repairs before closing, or even buying down your interest rate.
Instead of competing against ten (or more) other buyers, you can negotiate timing and terms that work for you.
This is what it looks like to be in a buyer’s market: more control, more options, and more room to structure a deal that actually fits your needs.
Timing Matters More Than You Think
If interest rates continue to drop in the coming year, the landscape could shift dramatically. There’s a backlog of buyers who’ve been waiting ever since rates began climbing. As soon as they see lower rates, they’ll jump back in and competition will heat up.
When that happens, the balance of power shifts back to sellers. Prices will rise, concessions will disappear, and buyers will find themselves once again competing in multiple-offer situations.
Remember 2021 into spring of 2022? Homes sold in days, often far above list price. Buyers were waiving inspections just to get in the door. That’s the type of market we may return to if rates drop further.
The lesson? Buy now, while the market is still soft, and refinance later when rates improve. Waiting could mean you lose not only negotiating power, but also the chance to buy at today’s prices.
How to Make Homeownership Affordable Right Now
The biggest question on most people’s minds is affordability. “Can I really buy right now?” The answer: YES if you use the tools available to you.
Here are two effective strategies my clients have been using:
1. Seller-Paid Concessions
One of the best-kept secrets in a softer market is the power of seller concessions.
With as little as 3% to 5% down, you can ask for up to 3% of the purchase price back in concessions.
With 10% or more down payment, you can ask for up to 6% of the purchase price.
That’s real money you don’t have to come up with out of pocket. Concessions can be used to cover your closing costs, prepaids like property taxes and homeowners insurance, and even a temporary rate buydown that lowers your monthly payment for the first couple of years – sometimes even into the 3s with the biggest temporary buydowns.
It’s a game-changer for affordability and one that only exists in a buyer’s market.
2. House Hacking
Another way to make homeownership work for you is to buy a property that produces income. This strategy, often called “house hacking,” turns your home into a wealth-building tool.
Here are some ways to do it:
Purchase a duplex or multi-unit property and live in one side while renting the other.
Convert a basement, garage, or accessory dwelling unit (ADU) into a rental space.
Buy a home that already has a separate living unit and rent it out from day one.
Real-life example: I recently worked with a client who purchased a home with a separate unit. After factoring in the rent she receives from that unit, her monthly payment is lower than what she was paying to rent an apartment. Not only does she now own her own home, but she also owns a 4-bedroom, 2-bath property that will appreciate over time and generate increasing rental income. In 10 years, as rents increase, she may very well have enough rent to cover her entire mortgage payment. That’s not just housing, it’s a retirement plan in the making.
The Real Cost of Waiting
It’s tempting to wait and see if rates drop further. But waiting comes with hidden costs that can add up quickly:
Lost equity growth: Every month you wait is another month you’re not building equity in a home of your own.
Higher competition: When more buyers flood the market, you lose the ability to negotiate and often end up paying more.
Rising prices: Lower rates usually drive higher demand, which pushes prices up. Even if you lock in a lower rate later, you may be paying more for the same house.
Missed concessions: The seller-paid costs, repairs, and rate buydowns available today won’t be on the table in a hot market.
Remember: you can always refinance your loan later, but you can’t go back in time and buy a property at today’s softer prices with more flexible, cooperative sellers.
Why Buy Now? Because the Window Won’t Stay Open Forever.
Right now, buyers have a unique opportunity: lower rates, motivated sellers, and real negotiating power. You can lock in a property at today’s prices, use seller concessions to make your payment affordable, and set yourself up for long-term wealth through smart ownership strategies.
If you wait, you may find yourself back in a bidding war, competing against buyers who are just as eager but willing to overpay to get in.
The question isn’t “should I buy now or later?” The real question is: how will I look back on this market a year from now? Will you wish you’d acted when the window was wide open?
Ready to Explore Your Options?
If you’ve been on the fence, now is the time to take another look. You don’t need to stretch beyond your means. You just need the right strategy, the right loan program, and a lender who understands how to make today’s market work in your favor.
Let’s talk about your options and find the path that makes sense for you.
📩 Email: liana@pomeroylending.com
📱 Phone: (303) 601-5197
🔗 Apply Online: pomeroylending.com
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Liana Pomeroy
Senior Mortgage Loan Advisor
Equal Housing Lender | Licensed in CO, FL, CA, TN & TX
All loans subject to approval. Conditions apply.