𝐃𝐨𝐧'𝐭 𝐌𝐢𝐬𝐬 𝐎𝐮𝐭: 𝐓𝐡𝐞 𝐇𝐢𝐝𝐝𝐞𝐧 𝐂𝐨𝐬𝐭𝐬 𝐨𝐟 𝐃𝐞𝐥𝐚𝐲𝐢𝐧𝐠 𝐘𝐨𝐮𝐫 𝐍𝐘𝐂 𝐀𝐩𝐚𝐫𝐭𝐦𝐞𝐧𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞

Trying to decide whether it makes more sense to buy an apartment now or wait? There’s a lot to consider, from what’s happening in the market to your evolving needs. But generally speaking, trying to time the market isn’t a winning strategy – there are too many unpredictable factors at play for that to be feasible.

That’s why experts often say: time in the market is better than timing the market.

In other words, if you’re ready to buy an apartment and the numbers work for you, moving forward sooner rather than later is often the smarter move. As Bankrate explains:

“No matter which way the real estate market is leaning, buying now means you can start building equity immediately.”

The Equity Advantage

Each quarter, Fannie Mae releases the Home Price Expectations Survey (HPES), which gathers insights from over 100 economists, real estate experts, and market strategists about where home prices are heading. According to the latest release, experts predict that apartment prices will continue to rise steadily through at least 2029, albeit at a more moderate pace than in recent years.

To put this into perspective: imagine buying a $400,000 apartment in early 2025. Using HPES projections, you could gain over $83,000 in equity over the next five years. That’s a significant boost to your wealth – something renters simply miss out on.

Overcoming Market Challenges

Yes, today’s market has its challenges. But buying an apartment in New York is a long-term investment, and there are creative ways to make it work. From exploring more affordable neighborhoods to considering co-ops, condos, or even down payment assistance programs, there are strategies to help you secure your new home.

Waiting might feel like the safer option, but if you’re simply holding off to “perfectly time” the market, consider what you’re leaving on the table. Building equity starts the moment you buy, and the sooner you begin, the greater your financial gains can be over time.

Bottom Line

If you’re debating whether to buy now or wait, remember this: it’s time in the market, not timing the market, that truly matters.

Who you work with matters! If you’re looking for a local agent to help you navigate the New York market, I’m here to guide you. Let’s talk about what you need to get started on your journey to apartment ownership today.