Thinking about putting off your home purchase for another year or two? You are not alone. Many buyers in Cary are wondering if they should wait for better interest rates or a cooler market. But waiting could cost you more than you think. Home prices in the Triangle continue to rise, and interest rates fluctuate, making homes in Cary more expensive the longer you wait.
Home Prices in Cary Are Still Climbing
Cary has consistently ranked as one of the best places to live in North Carolina, and demand for homes here reflects that. The area offers top-rated schools, a strong job market, and unbeatable amenities, making it a desirable place for buyers. Home values have been steadily increasing, and with more people moving to the Triangle, that trend is likely to continue. If you wait to buy, you could be looking at a much higher price tag in the near future.
Interest Rates Can Shrink Your Buying Power
Many buyers focus on home prices but overlook how much interest rates impact their monthly payments. Even a small increase can add hundreds of dollars to your mortgage each month. Over the life of a loan, that adds up to tens of thousands of extra dollars spent on interest. If rates rise while you wait, you may have to adjust your budget and settle for a smaller home or a less desirable location. Remember, if interest rates go down, you can always refinance to secure a lower rate, but if home prices keep rising, there’s no way to go back and pay less.
Cary’s Rental Market Is Only Getting More Competitive
If you are holding off on buying and renting instead, you are not alone. Cary’s rental prices have surged in recent years due to high demand and limited availability. Many renters find themselves in bidding wars just to secure a lease. Unlike homeownership, renting does not build equity, and rental costs are unpredictable. Instead of paying a landlord, investing in a home now allows you to build long-term financial stability.
More Buyers Mean More Competition
Cary’s popularity has led to a competitive housing market. Even when the market slows, there are always buyers eager to get into this desirable area. Waiting too long could mean facing even more competition when you finally decide to buy. A growing population, strong job opportunities, and continued development all point to one thing—homes in Cary will remain in high demand.
Work With a Realtor Who Knows the Market
Buying a home in Cary is a big decision, but waiting too long could cost you. If you are thinking about making a move, now is the time to act. Working with a local expert like Nina Gervase ensures you have someone who understands the market, knows the best opportunities, and can guide you through every step of the process. Reach out today to start your home search and make sure you are not paying more later for the home you want now.
