Pros and Considerations of Buying Right Now

Posted on: March 18, 2022

Pros and Considerations of Buying Right Now

Regardless of whether you are buying or renting a home, the market is tricky to navigate right now. Many of you have seen the news about rising interest rates, have been impacted by the soaring inflation rates, and are now trying to determine whether you should buy a home or wait it out. Without further ado, let’s dive into some factors you should consider when making such an important decision.

Pros of Buying:

  • Instead of filling someone else’s pockets, you are investing in your own property and will build equity over time. Owning a home also opens the door to options like borrowing against the home’s equity to finance other purchases in the future.
  • You may be eligible for tax deductions on paid interest, property taxes, and home improvements once you file each year.
  • Outside of homeowner’s association rules (if this applies to your home/neighborhood), you will have the freedom to make changes or upgrades to your home any which way you like. There are also no restrictions regarding pet ownership. These are often two huge pain points for renters.
  • You can still take advantage of interest rates, which remain close to historic lows, even though they are beginning to rise.
  • Owning a home can improve your credit in the long run (keep in mind it may dip once you take out the initial loan.) As you pay your mortgage on time, your credit score may steadily increase. Of course, this depends on a variety of other factors.
  • According to the U.S. Census, homeowners are four times less likely to move each year compared to renters. Additionally, according to the National Association of REALTORS®, communities with residents who plan to stay in their homes for years to come often have stronger social ties around their community.
  • Once your home is paid off, you will have the ability to pass it down to a loved one if that’s in your plans.


  • You should consider upfront expenses like down payments as well as closing costs
    –typically 3-6% of the total loan–such as the appraisal, underwriting fee, and even property taxes paid during closing. While a 20% down payment used to be a barrier to some buyers, there are plenty of ways to quality for a mortgage with much less down nowadays. Some government-backed programs can also provide the ability to purchase a home with little to no money down. Just keep in mind that the lower your down payment is, the higher your monthly mortgage insurance payments and interest rate will be.
  • Remember that your mortgage and other monthly payments can fluctuate. Property taxes can change based on the market while homeowner’s insurance may increase if there are natural disasters like widespread wildfires or an earthquake.
  • You will need to factor in costs for utilities, home maintenance and repairs, insurance, and HOA fees (if applicable).
  • If you are planning to relocate and need to sell your home down the road, you lose the flexibility to just pick up and move.

Homeownership is an incredibly involved but rewarding journey. It continues to be an honor to help my clients navigate the home buying and selling process, regardless of whether it’s their first time or their third. If you have questions, I would love to meet with you to discuss your options.


Work With Denise

My purpose has always been to help others, from being a tennis pro to teaching at Texas A&M to helping people invest in real estate. I have spent 30+ years helping people navigate the world of real estate. My goal is to both help you put together a real estate investment game plan and implement it.

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